AbbVie Inc. (NYSE:ABBV) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,706 shares of the company's stock after selling 12,233 shares during the period. AbbVie accounts for about 0.5% of Illinois Municipal Retirement Fund's investment portfolio, making the stock its 24th biggest position. Illinois Municipal Retirement Fund's holdings in AbbVie were worth $36,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH lifted its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the 4th quarter worth approximately $36,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 2.6%

Shares of ABBV stock traded down $4.90 on Friday, hitting $181.89. The stock had a trading volume of 29,262,557 shares, compared to its average volume of 6,318,620. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The business has a 50 day moving average price of $186.03 and a 200 day moving average price of $187.88. The company has a market cap of $321.29 billion, a PE ratio of 77.40, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.61%. AbbVie's dividend payout ratio is currently 279.15%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

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.