Lansforsakringar Fondforvaltning AB publ Cuts Stake in AbbVie Inc. $ABBV

Lansforsakringar Fondforvaltning AB publ lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% in the first quarter, Holdings Channel reports. The institutional investor owned 566,186 shares of the company’s stock after selling 39,973 shares during the period. AbbVie accounts for 0.6% of Lansforsakringar Fondforvaltning AB publ’s holdings, making the stock its 19th biggest holding. Lansforsakringar Fondforvaltning AB publ’s holdings in AbbVie were worth $123,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. SageGuard Financial Group LLC boosted its holdings in shares of AbbVie by 28.5% in the first quarter. SageGuard Financial Group LLC now owns 18,699 shares of the company’s stock valued at $4,067,000 after acquiring an additional 4,143 shares in the last quarter. Next Level Private LLC raised its holdings in AbbVie by 26.1% during the first quarter. Next Level Private LLC now owns 4,230 shares of the company’s stock worth $920,000 after purchasing an additional 875 shares in the last quarter. Tred Avon Family Wealth LLC lifted its position in AbbVie by 6.5% in the first quarter. Tred Avon Family Wealth LLC now owns 10,535 shares of the company’s stock valued at $2,291,000 after purchasing an additional 642 shares during the period. McLean Asset Management Corp boosted its holdings in AbbVie by 3.2% in the 1st quarter. McLean Asset Management Corp now owns 3,204 shares of the company’s stock valued at $697,000 after purchasing an additional 100 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in AbbVie by 6.8% in the 1st quarter. Apollon Wealth Management LLC now owns 119,615 shares of the company’s stock valued at $26,015,000 after purchasing an additional 7,638 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2%

Shares of ABBV opened at $253.86 on Tuesday. AbbVie Inc. has a twelve month low of $181.75 and a twelve month high of $255.99. The firm has a market capitalization of $448.52 billion, a P/E ratio of 125.06, a PEG ratio of 0.77 and a beta of 0.32. The firm’s 50-day moving average is $216.06 and its two-hundred day moving average is $219.38.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Analysts predict that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Canaccord Genuity Group raised their price target on AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Evercore set a $235.00 price objective on AbbVie in a report on Friday, May 15th. Finally, Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.81.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie reported positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma, with the trial meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival. Article Title
• Positive Sentiment: The European Medicines Agency CHMP issued positive opinions for Rinvoq (upadacitinib) in severe alopecia areata and non-segmental vitiligo, increasing the odds of future EU approvals and expanding AbbVie’s dermatology franchise. Article Title
• Positive Sentiment: The FDA approved Skyrizi for pediatric psoriasis, broadening the drug’s label and supporting further sales growth in AbbVie’s immunology business. Article Title
• Positive Sentiment: AbbVie also received a $100 million milestone-related payment tied to REGENXBIO’s diabetic retinopathy program, signaling continued progress in partnered ophthalmology assets. Article Title
• Neutral Sentiment: AbbVie is set to trade ex-dividend on July 15, which may attract income-focused investors but is generally a routine calendar event rather than a new catalyst. Article Title
• Neutral Sentiment: Recent commentary noted AbbVie’s shares have hit new 52-week highs and have been supported by strong earnings revisions, but this is more a reflection of recent momentum than a fresh company-specific event. Article Title

AbbVie 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.