Nordea Investment Management AB Buys 483,455 Shares of AbbVie Inc. (NYSE:ABBV)

Nordea Investment Management AB lifted its position in AbbVie Inc. (NYSE:ABBV) by 19.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,993,734 shares of the company’s stock after buying an additional 483,455 shares during the period. Nordea Investment Management AB’s holdings in AbbVie were worth $528,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in AbbVie in the second quarter worth approximately $26,000. Groupama Asset Managment boosted its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter valued at about $28,000. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.0 %

ABBV stock opened at $181.22 on Monday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The stock has a market cap of $320.24 billion, a P/E ratio of 62.92, a PEG ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company’s 50 day moving average is $180.39 and its two-hundred day moving average is $184.22.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.62%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ABBV. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

AbbVie 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.