Danica Pension Livsforsikringsaktieselskab Takes $18.90 Million Position in AbbVie Inc. $ABBV

Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 86,880 shares of the company’s stock, valued at approximately $18,896,000.

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

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s stock has been outperforming the broader market, with recent trading strength reinforcing investor confidence in the name. AbbVie (ABBV) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Analysts at Erste Group Bank reportedly raised earnings estimates for AbbVie, which can support the shares if investors expect stronger profit growth ahead. Erste Group Bank Brokers Boost Earnings Estimates for AbbVie
• Positive Sentiment: AbbVie said its ABBV-8736 injection study showed “quiet but meaningful” pipeline progress, adding another sign that its drug development efforts are advancing. AbbVie’s ABBV-8736 Injection Study Signals Quiet But Meaningful Pipeline Progress
• Positive Sentiment: A recent bullish article argued AbbVie looks like a strong buy-and-hold candidate, reflecting generally constructive sentiment around the stock. 3 Reasons to Buy AbbVie Stock Like There’s No Tomorrow
• Neutral Sentiment: A separate article discussed broader biotech and healthcare market trends, but it does not appear to have a direct company-specific impact on AbbVie. Biotech IPOs Surge 55% as AI Listings Lose Momentum
• Neutral Sentiment: Another article questioned whether AbbVie is leaving eye care, but the available headline alone does not indicate a clear financial impact. BLOG: Exit stage left: Is AbbVie leaving eye care?
• Neutral Sentiment: Coverage of AbbVie’s $10.9 billion Apogee acquisition focused on potential dividend effects, but the headline suggests investors are mainly evaluating the deal rather than reacting to a fresh negative catalyst. How Will AbbVie’s $10.9 Billion Acquisition of Apogee Impact Its Dividend?

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Cantor Fitzgerald boosted their price objective on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, UBS Group upped their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.67.

AbbVie Stock Performance

ABBV stock opened at $256.18 on Wednesday. The company’s fifty day moving average price is $231.78 and its 200-day moving average price is $222.23. AbbVie Inc. has a one year low of $184.90 and a one year high of $261.64. The company has a market capitalization of $452.62 billion, a PE ratio of 126.20, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $2.46 earnings per share. On average, research analysts predict that AbbVie Inc. will post 14.18 EPS for the current fiscal year.

AbbVie Announces Dividend

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

About AbbVie

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.