AbbVie Inc. (NYSE:ABBV) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,636 shares of the company’s stock after acquiring an additional 157 shares during the quarter. AbbVie comprises about 0.6% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 23rd biggest holding. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $31,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC raised its position in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after acquiring an additional 57 shares during the period. Finally, Northstar Group Inc. raised its position in AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock worth $1,783,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Trading Up 0.4%

AbbVie stock opened at $190.78 on Thursday. The stock has a market cap of $336.99 billion, a P/E ratio of 81.18, a PEG ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm’s 50 day moving average price is $187.12 and its 200-day moving average price is $188.23.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the business posted $2.31 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

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.