Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in AbbVie Inc. $ABBV

Key Points

• Fjarde AP Fonden boosted its AbbVie stake by 64.2% in the first quarter, adding 208,281 shares and bringing its total holding to 532,925 shares worth about $115.9 million.
• AbbVie continues to draw mostly bullish Wall Street coverage, with recent analyst targets ranging from $235 to $298 and a consensus rating of Moderate Buy.
• The company reported strong quarterly results, beating earnings and revenue estimates, and it also highlighted positive momentum from products and pipeline catalysts such as CoolSculpting Elite, venetoclax, and the Apogee acquisition.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 64.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,925 shares of the company's stock after purchasing an additional 208,281 shares during the quarter. AbbVie accounts for approximately 0.6% of Fjarde AP Fonden Fourth Swedish National Pension Fund's portfolio, making the stock its 26th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in AbbVie were worth $115,906,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Chelsea Counsel Co. acquired a new position in AbbVie during the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC purchased a new position in AbbVie during the fourth quarter worth about $28,000. Westend Capital Management LLC acquired a new stake in AbbVie in the fourth quarter valued at $29,000. Imprint Wealth LLC grew its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX purchased a new position in AbbVie during the third quarter worth $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Evercore set a $235.00 target price on shares of AbbVie in a report on Friday, May 15th. William Blair reissued an "outperform" rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Guggenheim reiterated a "buy" rating and set a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.81.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said its ongoing post-market study for CoolSculpting Elite supports the aesthetics franchise, bolstering the outlook for a business that can diversify revenue beyond core pharma. AbbVie’s CoolSculpting Elite Study Update Strengthens Aesthetics Outlook
• Positive Sentiment: AbbVie’s venetoclax data in chronic lymphocytic leukemia added to confidence in the company’s hematology pipeline and long-term commercialization potential. AbbVie Inc. (ABBV) Hits New Milestone with Venetoclax on Chronic Lymphocytic Leukemia (CLL) Treatment
• Positive Sentiment: Commentary around AbbVie as a top dividend and value stock continues to highlight its strong cash flow, income appeal, and recent operating momentum. 3 Dividend Stocks to Buy Hand Over Fist in July
• Neutral Sentiment: Several articles framed AbbVie as an attractive long-term portfolio holding versus peers like Johnson & Johnson, but these pieces were largely comparative and not direct new catalysts. J&J or AbbVie: Which Stock Deserves a Place in Your Portfolio Now?
• Neutral Sentiment: Analyst estimate revisions were mixed but only slightly trimmed FY2027 earnings expectations, suggesting no major change to the fundamental view. AbbVie analyst estimate update
• Positive Sentiment: Coverage around AbbVie’s Apogee acquisition also pointed to a broader strategic moat and pipeline expansion, which can support sentiment on the stock. AbbVie: Apogee Deal Just Widened An Already Dominant Moat

AbbVie Stock Up 3.9%

ABBV stock opened at $260.88 on Friday. The company has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 0.82 and a beta of 0.30. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The company has a 50 day moving average of $218.98 and a two-hundred day moving average of $220.02.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The firm's revenue was up 12.4% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's payout ratio is currently 340.89%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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