Public Employees Retirement System of Ohio Sells 47,357 Shares of AbbVie Inc. (NYSE:ABBV)

Public Employees Retirement System of Ohio decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 768,483 shares of the company's stock after selling 47,357 shares during the period. AbbVie makes up about 0.5% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 29th largest position. Public Employees Retirement System of Ohio's holdings in AbbVie were worth $136,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABBV. Vega Investment Solutions purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $221,000. Strait & Sound Wealth Management LLC raised its stake in shares of AbbVie by 1.7% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 10,031 shares of the company's stock valued at $1,782,000 after purchasing an additional 172 shares during the period. Helium Advisors LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $295,000. Breakthru Advisory Services LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $286,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $254,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABBV shares. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Truist Financial lifted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Trading Up 1.3%

NYSE ABBV traded up $2.42 on Tuesday, hitting $185.68. 2,075,940 shares of the company were exchanged, compared to its average volume of 6,237,975. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company's 50 day moving average price is $187.82 and its 200-day moving average price is $186.11. The firm has a market capitalization of $327.98 billion, a P/E ratio of 77.33, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is owned by corporate insiders.

AbbVie 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.