State of New Jersey Common Pension Fund D Has $115.56 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

State of New Jersey Common Pension Fund D decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 650,330 shares of the company’s stock after selling 2,212 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AbbVie were worth $115,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. AMF Tjanstepension AB bought a new position in AbbVie during the 3rd quarter worth $8,777,000. Creative Planning grew its stake in shares of AbbVie by 5.8% in the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after buying an additional 40,925 shares during the period. Swedbank AB grew its stake in shares of AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the period. Howard Capital Management Group LLC grew its stake in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares during the period. Finally, Inspire Advisors LLC increased its holdings in AbbVie by 5.7% during the 3rd quarter. Inspire Advisors LLC now owns 1,624 shares of the company’s stock worth $321,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ABBV shares. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

AbbVie stock opened at $193.00 on Monday. 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 50-day moving average of $178.93 and a 200-day moving average of $186.03. 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 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last posted its 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 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. 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 (DPR) is presently 273.33%.

Insiders Place Their Bets

In other AbbVie news, 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 transaction of $310,032.00. Following the completion of the transaction, the senior vice president now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.