Oregon Public Employees Retirement Fund Raises Stake in AbbVie Inc. $ABBV

Key Points

• The Oregon Public Employees Retirement Fund raised its stake in AbbVie Inc. by 0.7%, owning 152,736 shares valued at approximately $28.35 million.
• AbbVie recently declared a quarterly dividend of $1.64 per share, reflecting an annual yield of 2.8%.
• Despite having a revenue increase of 6.6% year-over-year, AbbVie's recent EPS of $2.97 missed analysts' expectations by $0.27.

Oregon Public Employees Retirement Fund raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,736 shares of the company's stock after buying an additional 1,100 shares during the quarter. AbbVie makes up approximately 0.5% of Oregon Public Employees Retirement Fund's investment portfolio, making the stock its 24th largest position. Oregon Public Employees Retirement Fund's holdings in AbbVie were worth $28,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Wealth Architects LLC grew its holdings in AbbVie by 1.8% in the 2nd quarter. Wealth Architects LLC now owns 4,694 shares of the company's stock valued at $871,000 after buying an additional 83 shares in the last quarter. RoundAngle Advisors LLC grew its holdings in AbbVie by 1.1% in the 2nd quarter. RoundAngle Advisors LLC now owns 10,051 shares of the company's stock valued at $1,866,000 after buying an additional 109 shares in the last quarter. Concord Asset Management LLC VA grew its holdings in shares of AbbVie by 27.9% during the 2nd quarter. Concord Asset Management LLC VA now owns 7,759 shares of the company's stock worth $1,440,000 after purchasing an additional 1,691 shares during the period. Total Clarity Wealth Management Inc. grew its holdings in shares of AbbVie by 12.2% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 6,744 shares of the company's stock worth $1,252,000 after purchasing an additional 734 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC grew its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 8,577 shares of the company's stock worth $1,592,000 after purchasing an additional 78 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV opened at $230.88 on Monday. The stock's 50-day moving average price is $214.84 and its 200 day moving average price is $196.71. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a PEG ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the company posted $2.65 EPS. AbbVie's revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. Raymond James Financial reiterated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. HSBC set a $225.00 price target on AbbVie in a report on Thursday, October 2nd. JPMorgan Chase & Co. increased their price target on AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the stock an "overweight" rating in a report on Thursday. Finally, Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $231.90.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

AbbVie Company 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.

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