New Mexico Educational Retirement Board lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 82,555 shares of the company's stock after selling 1,700 shares during the period. AbbVie makes up approximately 0.6% of New Mexico Educational Retirement Board's holdings, making the stock its 22nd largest position. New Mexico Educational Retirement Board's holdings in AbbVie were worth $17,297,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ABBV. Abound Financial LLC bought a new stake in AbbVie during the 1st quarter worth approximately $30,000. EnRich Financial Partners LLC grew its stake in AbbVie by 196.4% in the fourth 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 period. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter valued at about $32,000. Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the first quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Check Out Our Latest Analysis on AbbVie
AbbVie Stock Performance
Shares of NYSE:ABBV opened at $189.60 on Wednesday. The firm has a 50 day moving average of $187.19 and a 200 day moving average of $188.77. 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 Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a market capitalization of $334.91 billion, a price-to-earnings ratio of 80.68, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.
AbbVie Company Profile
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Free Report)
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.
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