AbbVie Inc (NYSE:ABBV) Stake Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of AbbVie Inc (NYSE:ABBV) by 16.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 594,841 shares of the company’s stock after selling 120,000 shares during the quarter. AbbVie makes up 1.1% of Handelsbanken Fonder AB’s holdings, making the stock its 29th largest holding. Handelsbanken Fonder AB’s holdings in AbbVie were worth $55,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truewealth LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $126,000. Delpha Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $131,000. Virtue Capital Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $139,000. Fairfield Bush & CO. purchased a new stake in shares of AbbVie in the 1st quarter worth approximately $146,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $148,000. Institutional investors own 69.35% of the company’s stock.

ABBV traded down $0.81 during midday trading on Friday, hitting $95.98. 4,694,600 shares of the company traded hands, compared to its average volume of 7,415,017. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. The company has a market cap of $147.28 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.88 and a beta of 1.56. AbbVie Inc has a 52-week low of $72.78 and a 52-week high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. research analysts forecast that AbbVie Inc will post 7.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, July 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.00%. AbbVie’s dividend payout ratio is presently 68.57%.

A number of research firms recently commented on ABBV. BMO Capital Markets decreased their target price on shares of AbbVie from $81.00 to $78.00 and set an “underperform” rating for the company in a research report on Wednesday, May 23rd. Goldman Sachs Group cut shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Credit Suisse Group cut shares of AbbVie from a “neutral” rating to a “sell” rating and decreased their target price for the company from $104.00 to $89.00 in a research report on Tuesday, May 29th. Deutsche Bank cut shares of AbbVie from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Finally, Deutsche Bank lowered shares of AbbVie from a “neutral” rating to an “underperform” rating and cut their price target for the company from $125.86 to $65.61 in a research note on Wednesday, May 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $105.98.

In other AbbVie news, Director Edward J. Rapp bought 1,013 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were acquired at an average cost of $98.63 per share, with a total value of $99,912.19. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glenn F. Tilton bought 5,400 shares of the business’s stock in a transaction dated Wednesday, June 27th. The stock was acquired at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the acquisition, the director now directly owns 39,735 shares in the company, valued at $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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