Retirement Systems of Alabama Has $180.17 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Retirement Systems of Alabama boosted its stake in AbbVie Inc. (NYSE:ABBV) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 989,388 shares of the company’s stock after buying an additional 569 shares during the period. AbbVie comprises approximately 0.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 17th biggest position. Retirement Systems of Alabama’s holdings in AbbVie were worth $180,168,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the period. Capital International Investors increased its holdings in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Morgan Stanley raised its position in shares of AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the period. Finally, Norges Bank acquired a new stake in AbbVie during the fourth quarter worth approximately $3,229,888,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 2.1 %

AbbVie stock traded up $3.41 during trading hours on Friday, hitting $167.25. The stock had a trading volume of 5,310,352 shares, compared to its average volume of 5,655,066. The stock has a market cap of $295.34 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 2.10 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business’s 50 day simple moving average is $164.43 and its 200-day simple moving average is $167.77. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the company earned $2.46 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABBV. Piper Sandler reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Tuesday. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday. Finally, Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.07.

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.