New York State Common Retirement Fund Has $395.25 Million Stake in AbbVie Inc. (NYSE:ABBV)

New York State Common Retirement Fund increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,224,246 shares of the company’s stock after purchasing an additional 4,200 shares during the quarter. AbbVie makes up approximately 0.5% of New York State Common Retirement Fund’s portfolio, making the stock its 24th largest position. New York State Common Retirement Fund’s holdings in AbbVie were worth $395,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 1.8 %

ABBV stock opened at $196.36 on Wednesday. The business’s 50-day simple moving average is $179.25 and its 200 day simple moving average is $186.06. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $347.00 billion, a PE ratio of 81.82, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last issued its 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 257.91%. During the same period last year, the business earned $2.79 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced 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 3.34%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Five equities 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

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.