AbbVie Inc. $ABBV Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 290,591 shares of the company’s stock after buying an additional 12,000 shares during the quarter. AbbVie comprises approximately 0.5% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 28th largest position. Teachers Retirement System of The State of Kentucky’s holdings in AbbVie were worth $63,201,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp lifted its stake in shares of AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Bank of America Corp DE grew its holdings in shares of AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after purchasing an additional 356,394 shares during the period. Finally, Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $5,865,055,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Bank of America raised AbbVie’s price target to $276 from $234 and reiterated a buy rating, signaling confidence in additional upside for the shares. Bank of America raises AbbVie price target
• Positive Sentiment: RBC Capital also increased its price target to $280 from $260 and kept an outperform rating, adding to the wave of analyst support. RBC raises AbbVie price target
• Positive Sentiment: JPMorgan likewise lifted its target to $280 from $260 and maintained an overweight rating, reinforcing a favorable near-term outlook for AbbVie. JPMorgan raises AbbVie price target
• Neutral Sentiment: Recent coverage comparing Johnson & Johnson and AbbVie highlighted how both pharma giants’ latest quarterly results are shaping income-investor preferences, but it did not point to a clear new catalyst for AbbVie. Johnson & Johnson vs AbbVie article
• Neutral Sentiment: AbbVie also appeared in an industry piece on the expanding cystic fibrosis market, which may be supportive of long-term therapeutic demand but is not an immediate stock-moving event. Cystic fibrosis market article
• Negative Sentiment: Despite the analyst upgrades, AbbVie was recently reported as having moved lower in trading, suggesting the stock is still contending with profit-taking or broader market pressure. AbbVie stock drops despite market gains
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a routine transaction that may support AbbVie’s drug-delivery capabilities but is unlikely to move the stock on its own. West Pharmaceutical SmartDose sale to AbbVie

AbbVie Price Performance

NYSE:ABBV opened at $248.00 on Monday. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The firm has a market capitalization of $438.17 billion, a PE ratio of 122.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The business’s fifty day moving average price is $225.42 and its 200 day moving average price is $221.20.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the business earned $2.46 EPS. AbbVie’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABBV shares. Canaccord Genuity Group boosted their price objective on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. HSBC reaffirmed a “buy” rating and set a $300.00 target price on shares of AbbVie in a research note on Monday, July 6th. Bank of America boosted their price target on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.81.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.