Public Employees Retirement System of Ohio Has $161.11 Million Position in AbbVie Inc. (NYSE:ABBV)

Public Employees Retirement System of Ohio lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 815,840 shares of the company’s stock after selling 7,777 shares during the quarter. AbbVie comprises 0.7% of Public Employees Retirement System of Ohio’s holdings, making the stock its 21st largest holding. Public Employees Retirement System of Ohio’s holdings in AbbVie were worth $161,112,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $999,000. Saturna Capital Corp increased its position in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the last quarter. PGGM Investments increased its position in shares of AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after purchasing an additional 24,756 shares during the last quarter. Finally, Schrum Private Wealth Management LLC increased its position in shares of AbbVie by 57.5% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after purchasing an additional 6,065 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.0 %

Shares of NYSE ABBV opened at $176.19 on Monday. AbbVie Inc. has a 12-month low of $145.20 and a 12-month high of $207.32. The company has a market cap of $311.35 billion, a P/E ratio of 61.18, a P/E/G ratio of 2.02 and a beta of 0.58. 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 stock has a fifty day moving average price of $186.76 and a 200 day moving average price of $182.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share. Research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.72%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Truist Financial lifted their price target on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $202.38.

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.