AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Tredje AP fonden

Key Points

• Tredje AP fonden increased its holdings in AbbVie Inc. by 0.6%, owning a total of 754,138 shares, which represents approximately $158 million at the end of the last quarter.
• AbbVie recently declared a quarterly dividend of $1.64 per share, with an annualized dividend yield of 3.43% and a high payout ratio of 279.15%.
• Wall Street analysts have varying ratings for AbbVie, with the average rating being a "Moderate Buy" and an average target price set at $211.29.

Tredje AP fonden lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754,138 shares of the company's stock after purchasing an additional 4,680 shares during the quarter. AbbVie makes up 1.5% of Tredje AP fonden's investment portfolio, making the stock its 11th biggest holding. Tredje AP fonden's holdings in AbbVie were worth $158,007,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABBV. Brighton Jones LLC lifted its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Wellington Management Group LLP grew its position in shares of AbbVie by 42.7% in the fourth quarter. Wellington Management Group LLP now owns 2,236,648 shares of the company's stock valued at $397,452,000 after purchasing an additional 669,493 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of AbbVie by 0.6% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,662 shares of the company's stock valued at $4,738,000 after purchasing an additional 167 shares during the period. Finally, National Bank of Canada FI grew its position in shares of AbbVie by 15.0% in the fourth quarter. National Bank of Canada FI now owns 1,431,817 shares of the company's stock valued at $254,394,000 after purchasing an additional 187,271 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Guggenheim boosted their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Finally, Raymond James Financial boosted their price objective on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $212.81.

AbbVie Stock Performance

ABBV stock traded up $6.15 on Friday, reaching $195.17. The company's stock had a trading volume of 8,081,230 shares, compared to its average volume of 6,877,075. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a market capitalization of $344.75 billion, a P/E ratio of 83.05, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. The firm has a fifty day moving average of $188.10 and a two-hundred day moving average of $190.04. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.65 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 279.15%.

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.