Retirement Systems of Alabama lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 988,819 shares of the company's stock after acquiring an additional 40,235 shares during the quarter. AbbVie makes up about 0.6% of Retirement Systems of Alabama's investment portfolio, making the stock its 20th largest position. Retirement Systems of Alabama owned approximately 0.05% of AbbVie worth $153,237,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Altfest L J & Co. Inc. increased its holdings in AbbVie by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company's stock valued at $3,480,000 after purchasing an additional 215 shares during the last quarter. Torray Investment Partners LLC increased its holdings in AbbVie by 13.0% in the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company's stock valued at $3,159,000 after purchasing an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. increased its holdings in AbbVie by 21.3% in the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company's stock valued at $3,936,000 after purchasing an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC increased its holdings in AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company's stock valued at $413,000 after purchasing an additional 400 shares during the last quarter. Finally, Opinicus Capital Inc. bought a new stake in AbbVie in the fourth quarter valued at about $1,296,000. Institutional investors own 70.23% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, March 27th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. BMO Capital Markets boosted their target price on AbbVie from $187.00 to $195.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Finally, Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $177.43.
Get Our Latest Report on ABBV
AbbVie Stock Down 4.6 %
Shares of ABBV stock traded down $7.67 on Friday, hitting $159.62. 10,721,740 shares of the stock were exchanged, compared to its average volume of 5,004,945. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $282.63 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. The business has a 50-day moving average of $174.59 and a 200 day moving average of $160.90. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $12.31 billion during the quarter, compared to analysts' expectations of $11.93 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. AbbVie's revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.88%. AbbVie's dividend payout ratio (DPR) is presently 183.98%.
Insider Activity at AbbVie
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company's stock.
AbbVie Company Profile
(
Free Report)
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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