Illinois Municipal Retirement Fund Sells 12,233 Shares of AbbVie Inc. (NYSE:ABBV)

Illinois Municipal Retirement Fund lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,706 shares of the company’s stock after selling 12,233 shares during the quarter. AbbVie accounts for 0.5% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 24th largest position. Illinois Municipal Retirement Fund’s holdings in AbbVie were worth $36,604,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ABBV. Crestline Management LP grew its stake in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP grew its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. grew its stake in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Weaver Capital Management LLC lifted its holdings in AbbVie by 3.9% during the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.9%

NYSE ABBV opened at $187.06 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The firm has a market capitalization of $330.42 billion, a PE ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50. The stock’s 50 day moving average is $186.03 and its 200 day moving average is $187.88.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Bank of America increased their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.