Lansforsakringar Fondforvaltning AB publ Decreases Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its AbbVie stake by 6.6% in the first quarter, selling 39,973 shares and ending with 566,186 shares worth about $123.1 million.
• AbbVie reported stronger-than-expected quarterly results, posting EPS of $2.65 versus the $2.59 estimate and revenue of $15 billion, up 12.4% from a year earlier.
• The company also announced a quarterly dividend of $1.73 per share, implying an annualized payout of $6.92 and a 2.7% yield, while recent news highlighted positive clinical and regulatory developments for key drugs like epcoritamab, Rinvoq, and Skyrizi.

Lansforsakringar Fondforvaltning AB publ lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,186 shares of the company's stock after selling 39,973 shares during the period. AbbVie accounts for approximately 0.6% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 19th largest position. Lansforsakringar Fondforvaltning AB publ's holdings in AbbVie were worth $123,139,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABBV. Brighton Jones LLC increased its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of AbbVie by 72.7% during the 4th 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. Schnieders Capital Management LLC. lifted its position in shares of AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after buying an additional 789 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after buying an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in shares of AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $253.86 on Tuesday. The company has a 50-day simple moving average of $216.06 and a 200-day simple moving average of $219.38. AbbVie Inc. has a one year low of $181.75 and a one year high of $255.99. The stock has a market capitalization of $448.52 billion, a price-to-earnings ratio of 125.06, a PEG ratio of 0.77 and a beta of 0.32.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma, with the trial meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival. Article Title
• Positive Sentiment: The European Medicines Agency CHMP issued positive opinions for Rinvoq (upadacitinib) in severe alopecia areata and non-segmental vitiligo, increasing the odds of future EU approvals and expanding AbbVie’s dermatology franchise. Article Title
• Positive Sentiment: The FDA approved Skyrizi for pediatric psoriasis, broadening the drug’s label and supporting further sales growth in AbbVie’s immunology business. Article Title
• Positive Sentiment: AbbVie also received a $100 million milestone-related payment tied to REGENXBIO’s diabetic retinopathy program, signaling continued progress in partnered ophthalmology assets. Article Title
• Neutral Sentiment: AbbVie is set to trade ex-dividend on July 15, which may attract income-focused investors but is generally a routine calendar event rather than a new catalyst. Article Title
• Neutral Sentiment: Recent commentary noted AbbVie’s shares have hit new 52-week highs and have been supported by strong earnings revisions, but this is more a reflection of recent momentum than a fresh company-specific event. Article Title

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research note on Monday, June 22nd. Bank of America raised AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Piper Sandler reiterated an "overweight" rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. William Blair reissued an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $253.81.

AbbVie Company 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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