Oregon Public Employees Retirement Fund Purchases 354 Shares of AbbVie Inc. (NYSE:ABBV)

Oregon Public Employees Retirement Fund increased its position in AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,479 shares of the company’s stock after acquiring an additional 354 shares during the period. AbbVie comprises about 0.5% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 26th biggest holding. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $26,918,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB purchased a new stake in shares of AbbVie in the 3rd quarter worth $8,777,000. Swedbank AB grew its holdings in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its position in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares in the last quarter. Autumn Glory Partners LLC lifted its position in shares of AbbVie by 30.3% during the 3rd quarter. Autumn Glory Partners LLC now owns 12,488 shares of the company’s stock valued at $2,467,000 after buying an additional 2,903 shares in the last quarter. Finally, Old Port Advisors bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $222,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Truist Financial increased 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. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 0.1 %

NYSE ABBV opened at $204.19 on Wednesday. The stock has a market cap of $360.46 billion, a P/E ratio of 85.08, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a fifty day simple moving average of $182.48 and a two-hundred day simple moving average of $186.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $2.79 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business 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 $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.21%. 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.