AbbVie Inc. (NYSE:ABBV) Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB increased its stake in AbbVie Inc. (NYSE:ABBV) by 177.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,511 shares of the company’s stock after acquiring an additional 79,065 shares during the period. AMF Tjanstepension AB’s holdings in AbbVie were worth $21,948,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $7,028,000. Banco Santander S.A. boosted its position in shares of AbbVie by 13.8% in the fourth quarter. Banco Santander S.A. now owns 73,444 shares of the company’s stock worth $13,051,000 after acquiring an additional 8,907 shares during the last quarter. Camden National Bank boosted its position in shares of AbbVie by 6.8% in the fourth quarter. Camden National Bank now owns 10,509 shares of the company’s stock worth $1,867,000 after acquiring an additional 673 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of AbbVie by 11.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 47,581 shares of the company’s stock worth $8,952,000 after acquiring an additional 4,790 shares during the last quarter. Finally, RKL Wealth Management LLC lifted its position in AbbVie by 1.6% during the fourth quarter. RKL Wealth Management LLC now owns 15,655 shares of the company’s stock valued at $2,782,000 after buying an additional 244 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 1.8 %

Shares of NYSE:ABBV opened at $214.55 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a fifty day simple moving average of $187.63 and a 200 day simple moving average of $187.59. The firm has a market cap of $378.75 billion, a PE ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $215.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie’s payout ratio is 273.33%.

AbbVie 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.