AMF Tjanstepension AB Sells 15,635 Shares of AbbVie Inc. (NYSE:ABBV)

AMF Tjanstepension AB trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 107,876 shares of the company's stock after selling 15,635 shares during the period. AMF Tjanstepension AB's holdings in AbbVie were worth $22,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the last quarter. Northern Trust Corp boosted its stake in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock worth $1,735,969,000 after buying an additional 2,102,273 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock worth $2,142,832,000 after buying an additional 1,882,780 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 1.3%

ABBV stock opened at $198.77 on Friday. The company has a market capitalization of $351.13 billion, a PE ratio of 94.65, a P/E/G ratio of 1.26 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The firm's 50-day moving average is $189.13 and its 200 day moving average is $190.69. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.65 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. AbbVie's dividend payout ratio (DPR) is 312.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ABBV shares. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Raymond James Financial increased their target price on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $214.43.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company's stock.

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.

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