Fjarde AP Fonden Fourth Swedish National Pension Fund Has $64.70 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stock position in AbbVie Inc. by 35.3%, now holding 308,784 shares valued at approximately $64.70 million.
• AbbVie reported earnings of $2.97 per share, missing estimates, but its revenue increased by 6.6% year-over-year, reaching $15.42 billion.
• The company recently announced a quarterly dividend of $1.64 per share, representing a 3.3% dividend yield at an annualized rate of $6.56.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 35.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 308,784 shares of the company's stock after selling 168,800 shares during the period. AbbVie makes up about 0.8% of Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings, making the stock its 24th biggest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in AbbVie were worth $64,696,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in AbbVie by 72.7% in 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 during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of AbbVie by 3.8% during the 4th quarter. Evergreen Capital Management LLC now owns 57,612 shares of the company's stock worth $10,238,000 after acquiring an additional 2,099 shares in the last quarter. Lifelong Wealth Advisors Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $246,000. Finally, Stenger Family Office LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $2,110,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.4%

AbbVie stock opened at $201.36 on Thursday. The stock has a market cap of $355.71 billion, a P/E ratio of 95.89, a PEG ratio of 1.28 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm's fifty day moving average price is $190.39 and its 200-day moving average price is $191.67. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

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

AbbVie Announces Dividend

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

Insider Buying and Selling at AbbVie

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 value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ABBV. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Guggenheim increased their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $214.95.

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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