Swedbank AB Buys 6,810 Shares of AbbVie Inc. (NYSE:ABBV)

Swedbank AB boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,147,126 shares of the company’s stock after buying an additional 6,810 shares during the quarter. Swedbank AB owned approximately 0.12% of AbbVie worth $424,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Zhang Financial LLC grew its holdings in AbbVie by 3.2% during the 3rd quarter. Zhang Financial LLC now owns 13,004 shares of the company’s stock valued at $2,568,000 after buying an additional 406 shares in the last quarter. Mustard Seed Financial LLC increased its holdings in AbbVie by 17.7% during the 3rd quarter. Mustard Seed Financial LLC now owns 6,167 shares of the company’s stock worth $1,218,000 after acquiring an additional 927 shares during the period. Occidental Asset Management LLC lifted its stake in AbbVie by 7.2% in the 3rd quarter. Occidental Asset Management LLC now owns 7,990 shares of the company’s stock worth $1,578,000 after purchasing an additional 537 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in AbbVie by 109.8% in the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 21,693 shares of the company’s stock valued at $4,284,000 after purchasing an additional 11,354 shares during the period. Finally, Prairie Sky Financial Group LLC grew its position in shares of AbbVie by 6.0% during the 3rd quarter. Prairie Sky Financial Group LLC now owns 82,007 shares of the company’s stock valued at $16,195,000 after purchasing an additional 4,648 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.1 %

ABBV traded down $2.22 on Tuesday, hitting $191.88. 3,151,224 shares of the company were exchanged, compared to its average volume of 5,285,249. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm has a fifty day simple moving average of $194.31 and a two-hundred day simple moving average of $177.47. The stock has a market capitalization of $338.83 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets increased their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $198.00.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company 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.