AbbVie Inc. (NYSE:ABBV) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its position in AbbVie Inc. (NYSE:ABBV) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,255 shares of the company’s stock after selling 2,100 shares during the quarter. AbbVie comprises about 0.5% of New Mexico Educational Retirement Board’s holdings, making the stock its 24th largest position. New Mexico Educational Retirement Board’s holdings in AbbVie were worth $14,972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $999,000. Saturna Capital Corp increased its stake in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC grew its holdings in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

ABBV stock opened at $193.00 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market cap of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock’s 50 day simple moving average is $178.59 and its 200 day simple moving average is $185.96.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business earned $2.79 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.40%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

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.