Handelsbanken Fonder AB Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Handelsbanken Fonder AB lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,197,543 shares of the company’s stock after buying an additional 6,336 shares during the period. AbbVie makes up about 1.0% of Handelsbanken Fonder AB’s portfolio, making the stock its 15th largest position. Handelsbanken Fonder AB’s holdings in AbbVie were worth $250,909,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABBV. EnRich Financial Partners LLC raised its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction 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 $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

NYSE:ABBV opened at $189.13 on Tuesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a 50 day moving average price of $183.92 and a 200-day moving average price of $187.28. AbbVie Inc. has a 1-year low of $163.52 and a 1-year 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.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on ABBV shares. Citigroup reaffirmed a “neutral” rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Bank of America boosted their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday. Finally, Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.