Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in AbbVie Inc. $ABBV

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its AbbVie stake by 13.5% in the first quarter, buying 18,500 additional shares and lifting its holding to 155,470 shares worth about $33.8 million.
• Wall Street sentiment remains broadly positive: several analysts raised their price targets on AbbVie, and the stock currently carries a Moderate Buy consensus with an average target price of $266.24.
• AbbVie recently reported better-than-expected quarterly results and announced a $1.73 quarterly dividend, while recent headlines also point to strong options activity and continued investment in its pipeline and operations.

Livforsakringsbolaget Skandia Omsesidigt increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,470 shares of the company's stock after buying an additional 18,500 shares during the quarter. AbbVie accounts for 1.3% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 14th largest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in AbbVie were worth $33,804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Chelsea Counsel Co. bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC grew its holdings in shares of AbbVie by 56.2% during the 4th 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. Westend Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in AbbVie in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABBV shares. Canaccord Genuity Group boosted their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. BMO Capital Markets raised their price objective on AbbVie from $258.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday. Bank of America lifted their price objective on AbbVie from $234.00 to $276.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research note on Monday, June 8th. Finally, Cantor Fitzgerald increased their target price on AbbVie from $240.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $266.24.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: BMO Capital Markets raised its price target on AbbVie to $300 from $258 and kept an outperform rating, signaling confidence in further upside for the shares.
• Positive Sentiment: Traders bought far more AbbVie call options than usual, suggesting some investors are positioning for a rebound or expecting a near-term catalyst.
• Positive Sentiment: AbbVie’s Allergan Aesthetics unit said SkinMedica is expanding its commitment to regenerative science, including more R&D investment and new advisory support, which reinforces AbbVie’s pipeline and innovation narrative. SkinMedica® Deepens Commitment to Regenerative Science with Continued Investment in Research and Development
• Positive Sentiment: Reports that AbbVie’s pharmaceutical project in Durham is moving forward point to continued operational expansion and investment.
• Neutral Sentiment: Analyst commentary from Zacks discussed whether AbbVie is a buy as Wall Street remains optimistic, but it did not introduce a new material corporate event. Is AbbVie (ABBV) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: AbbVie-related community and employee engagement updates in Asia are unlikely to move the stock much in the near term.
• Negative Sentiment: The stock has continued to slide for a seventh straight session, suggesting momentum has remained weak even with supportive analyst and options activity.
• Negative Sentiment: Broader sector concerns about big pharma’s looming patent-expiration problem may keep pressure on AbbVie and other drugmakers as investors focus on future revenue replacement needs.

AbbVie Price Performance

Shares of NYSE ABBV opened at $244.75 on Wednesday. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64. The company's 50-day moving average is $226.92 and its 200 day moving average is $221.44. The stock has a market capitalization of $432.42 billion, a P/E ratio of 120.57, a P/E/G ratio of 0.82 and a beta of 0.30.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 14.22 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

About AbbVie

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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