AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271,077 shares of the company's stock after selling 2,573 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in AbbVie were worth $48,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP raised its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares during the last quarter. Everence Capital Management Inc. boosted its position in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its stake in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Sky Investment Group LLC increased its holdings in AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after acquiring an additional 3,936 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last three months. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. Wells Fargo & Company raised their price objective 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. Raymond James restated an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. StockNews.com cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 9th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Guggenheim reissued a "buy" rating and issued a $214.00 price objective on shares of AbbVie in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $211.19.

AbbVie Trading Up 2.0 %

Shares of AbbVie stock traded up $3.50 during trading hours on Wednesday, hitting $177.28. The company's stock had a trading volume of 7,115,981 shares, compared to its average volume of 6,017,691. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $313.60 billion, a PE ratio of 73.87, a P/E/G ratio of 1.62 and a beta of 0.55. The business has a fifty day moving average of $197.62 and a 200 day moving average of $187.44. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the firm posted $2.79 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.70%. AbbVie's dividend payout ratio is presently 273.33%.

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.