Forsta AP Fonden Sells 17,300 Shares of AbbVie Inc. (NYSE:ABBV)

Forsta AP Fonden cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 441,262 shares of the company's stock after selling 17,300 shares during the quarter. AbbVie comprises 0.7% of Forsta AP Fonden's portfolio, making the stock its 23rd biggest holding. Forsta AP Fonden's holdings in AbbVie were worth $92,453,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABBV. Crestline Management LP raised its holdings in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after buying an additional 28,753 shares during the last quarter. Narus Financial Partners LLC increased its position in AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after acquiring an additional 401 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the last quarter. AXA S.A. raised its stake in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares during the last quarter. Finally, Highland Capital Management LLC grew its stake in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after purchasing an additional 2,792 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $198.77 on Friday. The firm has a market capitalization of $351.13 billion, a price-to-earnings ratio of 94.65, a PEG ratio of 1.26 and a beta of 0.50. The stock has a fifty day moving average of $189.13 and a 200 day moving average of $190.69. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 firm's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.65 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABBV shares. Citigroup raised their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research report on Thursday. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, 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 report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.43.

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.

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