Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $66.77 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 375,747 shares of the company’s stock after selling 8,769 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in AbbVie were worth $66,770,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at $35,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Finally, Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Down 0.8 %

ABBV stock opened at $212.21 on Thursday. The stock’s 50 day moving average is $193.14 and its 200-day moving average is $188.48. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a market capitalization of $374.62 billion, a PE ratio of 88.42, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend 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.