AbbVie Inc. $ABBV Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 65.8% in the 4th quarter, Holdings Channel reports. The fund owned 30,909 shares of the company’s stock after selling 59,376 shares during the period. AMF Tjanstepension AB’s holdings in AbbVie were worth $7,062,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ABBV. Wellington Management Group LLP grew its position in shares of AbbVie by 457.4% during the third quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares during the last quarter. Vanguard Group Inc. grew its position in AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after buying an additional 3,032,438 shares in the last quarter. Raymond James Financial Inc. grew its position in AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock valued at $1,733,222,000 after buying an additional 2,753,312 shares in the last quarter. Alliancebernstein L.P. grew its position in AbbVie by 31.8% in the 3rd quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company’s stock valued at $1,685,918,000 after buying an additional 1,758,657 shares in the last quarter. Finally, Amundi grew its position in AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after buying an additional 1,414,621 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares in the company, valued at approximately $8,771,510. This represents a 36.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Berenberg Bank set a $275.00 target price on shares of AbbVie in a research report on Tuesday, January 20th. Evercore set a $235.00 target price on shares of AbbVie in a research report on Friday. UBS Group decreased their target price on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

ABBV stock opened at $209.57 on Tuesday. The stock has a market cap of $370.27 billion, a P/E ratio of 103.24, a P/E/G ratio of 0.73 and a beta of 0.32. The firm has a 50 day simple moving average of $209.82 and a 200 day simple moving average of $219.92. AbbVie Inc. has a 52 week low of $180.25 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Wednesday, April 15th were given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

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.