Swedbank Boosts Stake in AbbVie Inc (ABBV)

Swedbank lifted its stake in AbbVie Inc (NYSE:ABBV) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,377,527 shares of the company’s stock after acquiring an additional 24,607 shares during the quarter. Swedbank owned approximately 0.09% of AbbVie worth $130,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dock Street Asset Management Inc. increased its position in AbbVie by 10.6% during the fourth quarter. Dock Street Asset Management Inc. now owns 80,830 shares of the company’s stock worth $7,817,000 after buying an additional 7,751 shares during the last quarter. Middleton & Co Inc MA increased its position in AbbVie by 7.2% during the fourth quarter. Middleton & Co Inc MA now owns 150,457 shares of the company’s stock worth $14,551,000 after buying an additional 10,086 shares during the last quarter. Bank of Stockton increased its position in AbbVie by 28.1% during the fourth quarter. Bank of Stockton now owns 13,558 shares of the company’s stock worth $1,310,000 after buying an additional 2,972 shares during the last quarter. Perkins Capital Management Inc. increased its position in AbbVie by 3.8% during the fourth quarter. Perkins Capital Management Inc. now owns 20,300 shares of the company’s stock worth $1,963,000 after buying an additional 750 shares during the last quarter. Finally, Sun Life Financial INC increased its position in AbbVie by 19.1% during the fourth quarter. Sun Life Financial INC now owns 19,479 shares of the company’s stock worth $1,884,000 after buying an additional 3,119 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.

ABBV stock opened at $92.43 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. AbbVie Inc has a 52-week low of $69.38 and a 52-week high of $125.86. The stock has a market cap of $145.22 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.85 and a beta of 1.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The company had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $7.60 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. equities analysts anticipate that AbbVie Inc will post 7.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, July 12th. AbbVie’s payout ratio is presently 68.57%.

In related news, SVP Timothy J. Richmond sold 17,588 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $99.47, for a total value of $1,749,478.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Rapp bought 1,013 shares of AbbVie stock in a transaction that occurred on Wednesday, June 20th. The stock was bought at an average price of $98.63 per share, with a total value of $99,912.19. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

Several equities analysts have commented on ABBV shares. Deutsche Bank downgraded shares of AbbVie from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $125.86 to $65.61 in a research report on Wednesday, May 30th. Goldman Sachs Group downgraded shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. BMO Capital Markets lowered their target price on shares of AbbVie from $81.00 to $78.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 23rd. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, Bank of America set a $120.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research report on Monday, March 26th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $105.85.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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