Oregon Public Employees Retirement Fund Purchases 157 Shares of AbbVie Inc. (NYSE:ABBV)

Oregon Public Employees Retirement Fund lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,636 shares of the company’s stock after acquiring an additional 157 shares during the quarter. AbbVie accounts for approximately 0.6% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 23rd largest holding. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $31,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. LaFleur & Godfrey LLC raised its holdings in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of AbbVie by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company’s stock valued at $7,683,000 after acquiring an additional 4,319 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $48,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Up 0.4%

NYSE ABBV opened at $190.78 on Thursday. The stock has a fifty day moving average of $187.12 and a 200-day moving average of $188.23. The stock has a market capitalization of $336.99 billion, a P/E ratio of 81.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.44%. AbbVie’s payout ratio is presently 279.15%.

AbbVie Profile

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.