AbbVie Inc. (NYSE:ABBV) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in AbbVie Inc. (NYSE:ABBV) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,356 shares of the company’s stock after selling 8,040 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AbbVie were worth $42,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $29,000. EnRich Financial Partners LLC increased its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 3.1 %

Shares of ABBV stock opened at $185.96 on Friday. The company has a market capitalization of $328.96 billion, a P/E ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business’s 50 day moving average is $196.85 and its two-hundred day moving average is $187.18. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.05). The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the business earned $2.31 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie’s dividend payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Guggenheim reaffirmed a “buy” rating and set a $214.00 price objective on shares of AbbVie in a research report on Thursday, April 17th. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Seven research 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 company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $211.19.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 over the last 90 days. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.