AbbVie Inc. (NYSE:ABBV) is Livforsakringsbolaget Skandia Omsesidigt’s 10th Largest Position

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 109,070 shares of the company’s stock after selling 600 shares during the period. AbbVie comprises 1.3% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 10th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AbbVie were worth $22,852,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ABBV. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.4%

Shares of NYSE ABBV opened at $189.13 on Tuesday. The company’s 50-day simple moving average is $183.92 and its 200-day simple moving average is $187.28. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The firm has a market cap of $334.09 billion, a price-to-earnings ratio of 78.81, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

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.