Teacher Retirement System of Texas Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Teacher Retirement System of Texas lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700,203 shares of the company's stock after selling 55,156 shares during the period. AbbVie comprises approximately 0.6% of Teacher Retirement System of Texas' holdings, making the stock its 21st largest position. Teacher Retirement System of Texas' holdings in AbbVie were worth $146,707,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Crestline Management LP lifted its stake in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. increased its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after purchasing an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $190.78 on Thursday. The business's fifty day moving average price is $187.12 and its 200 day moving average price is $188.23. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $336.99 billion, a P/E ratio of 81.18, a PEG ratio of 1.26 and a beta of 0.48.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Citigroup upped their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Evercore ISI boosted their price objective 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. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price 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.

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