Illinois Municipal Retirement Fund Has $33.22 Million Stake in AbbVie Inc. (NYSE:ABBV)

Illinois Municipal Retirement Fund grew its holdings in AbbVie Inc. (NYSE:ABBV) by 18.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 186,939 shares of the company’s stock after buying an additional 29,034 shares during the period. AbbVie comprises about 0.5% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 25th biggest holding. Illinois Municipal Retirement Fund’s holdings in AbbVie were worth $33,219,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABBV. Los Angeles Capital Management LLC grew its stake in shares of AbbVie by 1.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 623,762 shares of the company’s stock valued at $110,843,000 after buying an additional 8,264 shares in the last quarter. Todd Asset Management LLC grew its stake in shares of AbbVie by 1.1% in the 4th quarter. Todd Asset Management LLC now owns 229,376 shares of the company’s stock valued at $40,760,000 after buying an additional 2,580 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in AbbVie during the fourth quarter worth approximately $3,202,000. Exchange Capital Management Inc. bought a new stake in AbbVie during the fourth quarter worth approximately $282,000. Finally, Commonwealth Retirement Investments LLC boosted its position in AbbVie by 2.8% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 48,889 shares of the company’s stock worth $8,688,000 after purchasing an additional 1,346 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of ABBV opened at $204.02 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The business has a 50-day simple moving average of $181.90 and a two-hundred day simple moving average of $186.51. 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 stock has a market cap of $360.17 billion, a PE ratio of 85.01, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 296.28%. During the same period in the prior year, the business posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given 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 dividend yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ABBV shares. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James reissued 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. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five equities 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 stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

About AbbVie

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.