Louisiana State Employees Retirement System Reduces Position in AbbVie Inc. (NYSE:ABBV)

Louisiana State Employees Retirement System lessened its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 95,100 shares of the company's stock after selling 4,300 shares during the quarter. Louisiana State Employees Retirement System's holdings in AbbVie were worth $16,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. International Assets Investment Management LLC boosted its holdings in shares of AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp boosted its holdings in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after buying an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp boosted its holdings in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABBV. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reissued a "neutral" rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target for the company. Finally, Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.35.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

AbbVie stock traded down $0.45 during midday trading on Friday, reaching $193.00. The stock had a trading volume of 3,974,116 shares, compared to its average volume of 6,372,861. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm's 50-day moving average price is $178.93 and its 200 day moving average price is $186.04. The firm has a market capitalization of $341.05 billion, a PE ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the firm earned $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is 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.