New York State Common Retirement Fund lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,211,270 shares of the company's stock after selling 12,976 shares during the period. AbbVie makes up 0.7% of New York State Common Retirement Fund's portfolio, making the stock its 22nd largest holding. New York State Common Retirement Fund owned 0.13% of AbbVie worth $463,305,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Analysts Set New Price Targets
ABBV has been the topic of a number of analyst reports. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Check Out Our Latest Report on AbbVie
AbbVie Price Performance
Shares of NYSE:ABBV opened at $192.32 on Friday. The company has a market cap of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.28 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $187.01 and a 200 day simple moving average of $189.05. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.
AbbVie 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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