AbbVie Inc. $ABBV Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,285 shares of the company’s stock after selling 17,591 shares during the quarter. AMF Tjanstepension AB’s holdings in AbbVie were worth $16,759,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. FF Advisors LLC boosted its holdings in shares of AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after acquiring an additional 53 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners boosted its holdings in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Seneca House Advisors boosted its holdings in shares of AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares in the last quarter. Finally, Castle Wealth Management LLC boosted its holdings in shares of AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after acquiring an additional 57 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABBV shares. Piper Sandler initiated coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price on the stock. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Saturday, September 27th. Finally, UBS Group set a $251.00 price objective on shares of AbbVie in a research report on Friday. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.22.

AbbVie Stock Performance

Shares of AbbVie stock opened at $234.07 on Friday. The firm has a fifty day moving average of $210.77 and a two-hundred day moving average of $196.01. The stock has a market capitalization of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.38 and a beta of 0.51. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is presently 312.38%.

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.