AbbVie Inc. (NYSE:ABBV) Holdings Decreased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 26.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 996,157 shares of the company’s stock after selling 352,147 shares during the period. AbbVie accounts for 0.8% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 23rd biggest position. Skandinaviska Enskilda Banken AB publ’s holdings in AbbVie were worth $175,852,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Raymond James Financial Inc. acquired a new position in AbbVie during the 4th quarter valued at about $1,190,951,000. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. State Street Corp lifted its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Proficio Capital Partners LLC increased its position in shares of AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after purchasing an additional 1,172,362 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of AbbVie in the fourth quarter valued at $186,431,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Guggenheim boosted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Performance

NYSE:ABBV opened at $211.80 on Thursday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a market cap of $373.91 billion, a price-to-earnings ratio of 88.25, a PEG ratio of 1.62 and a beta of 0.61. The firm’s 50-day moving average is $189.84 and its 200-day moving average is $187.89. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.