Handelsbanken Fonder AB Has $49.69 Million Position in AbbVie Inc (ABBV)
Handelsbanken Fonder AB lowered its stake in AbbVie Inc (NYSE:ABBV) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,341 shares of the company’s stock after selling 69,500 shares during the quarter. AbbVie makes up 1.8% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 20th largest holding. Handelsbanken Fonder AB’s holdings in AbbVie were worth $49,687,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie in the 3rd quarter worth approximately $112,000. Mainstay Capital Management LLC ADV lifted its holdings in AbbVie by 6,123.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after purchasing an additional 12,247 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in AbbVie in the 2nd quarter worth approximately $150,000. MUFG Securities EMEA plc acquired a new stake in AbbVie in the 2nd quarter worth approximately $157,000. Finally, Rainier Group Investment Advisory LLC acquired a new stake in AbbVie in the 1st quarter worth approximately $161,000. 69.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ABBV opened at $86.15 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. The company has a market capitalization of $132.51 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62. AbbVie Inc has a 12 month low of $77.50 and a 12 month high of $125.86.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a $1.07 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 4.97%. The ex-dividend date is Monday, January 14th. AbbVie’s payout ratio is currently 68.57%.
Several equities research analysts recently weighed in on the company. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Argus reduced their target price on AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. BMO Capital Markets reduced their target price on AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a report on Monday, November 5th. Barclays restated a “hold” rating and issued a $90.00 target price on shares of AbbVie in a report on Sunday, November 4th. Finally, Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “hold” rating in a report on Friday, November 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $103.68.
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, to treat adults with genotype 1 chronic hepatitis C.
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