New York State Common Retirement Fund Grows Holdings in AbbVie Inc. (NYSE:ABBV)

New York State Common Retirement Fund raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,224,246 shares of the company's stock after acquiring an additional 4,200 shares during the period. AbbVie makes up 0.5% of New York State Common Retirement Fund's investment portfolio, making the stock its 24th biggest holding. New York State Common Retirement Fund owned 0.13% of AbbVie worth $395,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on ABBV shares. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Daiwa America lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $208.35.

AbbVie Trading Up 0.6 %

Shares of ABBV traded up $1.15 during mid-day trading on Friday, hitting $202.03. The company had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $356.64 billion, a PE ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The business's 50-day simple moving average is $181.25 and its 200-day simple moving average is $186.41. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

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.