Livforsakringsbolaget Skandia Omsesidigt Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 109,670 shares of the company’s stock after selling 300 shares during the period. AbbVie accounts for 1.0% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 15th largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AbbVie were worth $19,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AMF Tjanstepension AB purchased a new stake in AbbVie during the third quarter valued at about $8,777,000. West Financial Advisors LLC grew its position in AbbVie by 16.6% during the third quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after acquiring an additional 109 shares during the period. CWM LLC lifted its stake in shares of AbbVie by 6.7% during the third quarter. CWM LLC now owns 245,019 shares of the company’s stock worth $48,386,000 after purchasing an additional 15,388 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of AbbVie by 5.0% during the third quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock worth $4,292,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Adirondack Trust Co. lifted its stake in shares of AbbVie by 1.9% during the third quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock worth $3,207,000 after purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.6 %

NYSE:ABBV opened at $192.95 on Friday. The firm has a market capitalization of $340.96 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The stock has a 50 day moving average of $177.19 and a 200-day moving average of $185.43. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the business earned $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.