Andra AP fonden Has $61.73 Million Holdings in AbbVie Inc. $ABBV

Andra AP fonden lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 44.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,811 shares of the company’s stock after purchasing an additional 86,969 shares during the quarter. AbbVie accounts for approximately 0.8% of Andra AP fonden’s investment portfolio, making the stock its 18th biggest holding. Andra AP fonden’s holdings in AbbVie were worth $61,726,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $28,000. Imprint Wealth LLC raised its position in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $29,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Legacy Wealth Managment LLC ID lifted its stake in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported quiet but meaningful pipeline progress in its ABBV-8736 injection study, which could support longer-term growth expectations if the program continues to advance. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: Some coverage says AbbVie should be able to preserve its dividend even after the $10.9 billion Apogee acquisition because the deal is being funded with debt rather than cash, reducing immediate pressure on reserves. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?
• Neutral Sentiment: Broker coverage and article commentary pointed to higher earnings estimates for AbbVie, but also noted the stock may be stretched versus its growth outlook, leaving the market split on whether upside is already priced in. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Neutral Sentiment: Broader pharma commentary placed AbbVie alongside other large drugmakers and suggested it has outperformed the S&P 500, but also described its valuation as relatively elevated compared with growth expectations. 3 Biggest Pharma Giants: Buy, Sell or Hold?
• Negative Sentiment: Some market commentary around AbbVie’s eye-care exposure raised questions about whether the company is pulling back from that segment, which could signal strategic uncertainty for part of its portfolio. BLOG: Exit stage left: Is AbbVie leaving eye care?

AbbVie Stock Performance

ABBV stock opened at $253.37 on Tuesday. The company has a fifty day moving average price of $230.81 and a 200-day moving average price of $222.04. The company has a market capitalization of $447.66 billion, a P/E ratio of 124.81, a PEG ratio of 0.84 and a beta of 0.30. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is currently 340.89%.

Analyst Ratings Changes

A number of brokerages recently commented on ABBV. HSBC reiterated a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. UBS Group boosted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Canaccord Genuity Group increased their target price on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price target on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.67.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.