AbbVie Inc. (NYSE:ABBV) Holdings Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 237,356 shares of the company's stock after selling 8,040 shares during the period. Public Employees Retirement Association of Colorado's holdings in AbbVie were worth $42,178,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Criteria Caixa S.A.U. acquired a new stake in shares of AbbVie during the 4th quarter worth about $96,488,000. Berger Financial Group Inc lifted its holdings in shares of AbbVie by 6.3% during the 4th quarter. Berger Financial Group Inc now owns 14,914 shares of the company's stock worth $2,650,000 after acquiring an additional 885 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of AbbVie by 2.3% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,130 shares of the company's stock worth $734,000 after acquiring an additional 92 shares during the period. Prosperity Consulting Group LLC lifted its holdings in shares of AbbVie by 0.7% during the 4th quarter. Prosperity Consulting Group LLC now owns 26,614 shares of the company's stock worth $4,729,000 after acquiring an additional 187 shares during the period. Finally, Bolthouse Investments LLC purchased a new position in shares of AbbVie during the 4th quarter worth about $396,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $1.21 during trading on Tuesday, reaching $193.55. 6,671,296 shares of the company's stock traded hands, compared to its average volume of 6,064,739. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a 50 day moving average of $196.75 and a 200-day moving average of $187.12. The stock has a market capitalization of $342.39 billion, a P/E ratio of 80.65, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Truist Financial lifted 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. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.41.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred 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 represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. 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.