New York State Teachers Retirement System Has $283.57 Million Position in AbbVie Inc. (NYSE:ABBV)

New York State Teachers Retirement System cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,595,778 shares of the company’s stock after selling 73,790 shares during the quarter. AbbVie makes up approximately 0.6% of New York State Teachers Retirement System’s portfolio, making the stock its 24th biggest position. New York State Teachers Retirement System owned 0.09% of AbbVie worth $283,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GGM Financials LLC raised its position in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares in the last quarter. Dillon & Associates Inc. grew its stake in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. WFA Asset Management Corp grew its stake in AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after acquiring an additional 55 shares in the last quarter. First Bancorp Inc ME lifted its position in shares of AbbVie by 2.6% in the 3rd quarter. First Bancorp Inc ME now owns 2,240 shares of the company’s stock worth $442,000 after purchasing an additional 56 shares during the period. Finally, Carr Financial Group Corp lifted its position in shares of AbbVie by 1.1% in the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after purchasing an additional 56 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

ABBV stock opened at $193.54 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $342.00 billion, a P/E ratio of 80.64, a PEG ratio of 1.53 and a beta of 0.58. The company has a 50-day simple moving average of $178.24 and a 200 day simple moving average of $185.91.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

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.