Atle Fund Management AB Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Atle Fund Management AB reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,227 shares of the company's stock after selling 1,496 shares during the period. AbbVie makes up approximately 8.3% of Atle Fund Management AB's investment portfolio, making the stock its 2nd biggest position. Atle Fund Management AB's holdings in AbbVie were worth $18,695,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ABBV. EnRich Financial Partners LLC lifted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter worth about $32,000. Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ABBV shares. Morgan Stanley raised their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Price Performance

Shares of ABBV traded down $2.14 during trading hours on Friday, reaching $189.26. 5,331,983 shares of the stock traded hands, compared to its average volume of 6,326,641. 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 52-week low of $163.81 and a 52-week high of $218.66. The company's 50-day moving average price is $187.17 and its two-hundred day moving average price is $189.46. The company has a market cap of $334.31 billion, a P/E ratio of 80.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

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

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. AbbVie's dividend payout ratio (DPR) is presently 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.