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

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie during the first quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the fourth quarter valued at $32,000. Siemens Fonds Invest GmbH boosted its stake in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter valued at $35,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Up 1.3%

AbbVie stock traded up $2.43 during mid-day trading on Tuesday, hitting $187.28. 2,484,316 shares of the company's stock were exchanged, compared to its average volume of 6,306,466. The firm has a market capitalization of $330.80 billion, a P/E ratio of 79.66, a PEG ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company'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 (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABBV shares. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.29.

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.