AbbVie Inc. (NYSE:ABBV) Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,772 shares of the company's stock after buying an additional 13,600 shares during the quarter. AbbVie accounts for approximately 0.7% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 20th largest position. KLP Kapitalforvaltning AS's holdings in AbbVie were worth $150,178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. Geode Capital Management LLC increased its position in shares of AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors raised its stake in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter valued at about $4,459,385,000. Northern Trust Corp raised its stake in shares of AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. Finally, FMR LLC grew its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $2.25 on Tuesday, reaching $187.10. 4,430,539 shares of the company were exchanged, compared to its average volume of 6,322,613. The firm has a market cap of $330.49 billion, a price-to-earnings ratio of 79.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a 50-day moving average of $187.17 and a 200-day moving average of $189.53.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

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.