Kentucky Retirement Systems Sells 7,443 Shares of AbbVie Inc. $ABBV

Kentucky Retirement Systems lowered its stake in AbbVie Inc. (NYSE:ABBV) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,568 shares of the company’s stock after selling 7,443 shares during the period. AbbVie accounts for about 0.6% of Kentucky Retirement Systems’ holdings, making the stock its 23rd largest holding. Kentucky Retirement Systems’ holdings in AbbVie were worth $21,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie in the second quarter worth $25,000. TD Capital Management LLC boosted its stake in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in AbbVie in the 2nd quarter worth about $28,000. Financial Gravity Companies Inc. purchased a new stake in AbbVie during the 2nd quarter valued at about $36,000. Finally, Delos Wealth Advisors LLC bought a new stake in AbbVie during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABBV. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Hsbc Global Res raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. UBS Group upped their price objective on AbbVie from $195.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $244.55.

AbbVie Trading Down 0.2%

NYSE:ABBV opened at $223.45 on Friday. The company has a market cap of $394.92 billion, a PE ratio of 169.28, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 44.14. The company has a 50 day simple moving average of $227.25 and a two-hundred day simple moving average of $209.76. AbbVie Inc. has a 12 month low of $164.39 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. The firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be given a $1.73 dividend. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a yield of 3.1%. AbbVie’s payout ratio is 496.97%.

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.