Teachers Retirement System of The State of Kentucky Acquires 5,583 Shares of AbbVie Inc. (NYSE:ABBV)

Teachers Retirement System of The State of Kentucky increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,660 shares of the company's stock after acquiring an additional 5,583 shares during the period. AbbVie makes up about 0.5% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 26th biggest position. Teachers Retirement System of The State of Kentucky's holdings in AbbVie were worth $57,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the last quarter. Abound Financial LLC bought a new stake in AbbVie in the first quarter worth $30,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the fourth quarter worth $32,000. Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% in the fourth 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 during the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in AbbVie in the first quarter worth $35,000. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citigroup increased their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued 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 given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

AbbVie stock traded up $3.49 during midday trading on Wednesday, reaching $190.60. 1,959,342 shares of the company's stock were exchanged, compared to its average volume of 6,305,980. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $336.67 billion, a price-to-earnings ratio of 81.01, a P/E/G ratio of 1.22 and a beta of 0.48. The stock's 50-day simple moving average is $187.17 and its 200 day simple moving average is $189.53.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

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.