Almanack Investment Partners LLC. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 640.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,554 shares of the company's stock after buying an additional 9,128 shares during the period. Almanack Investment Partners LLC.'s holdings in AbbVie were worth $1,959,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ABBV. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% during 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 during the period. Revolve Wealth Partners LLC boosted 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 worth $1,294,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC boosted its holdings in shares of AbbVie by 23.8% during the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company's stock worth $10,235,000 after purchasing an additional 9,395 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AbbVie by 5.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 536,450 shares of the company's stock worth $112,398,000 after purchasing an additional 25,385 shares during the period. Finally, Hennessy Advisors Inc. boosted its holdings in shares of AbbVie by 6.0% during the first quarter. Hennessy Advisors Inc. now owns 31,900 shares of the company's stock worth $6,684,000 after purchasing an additional 1,800 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ABBV has been the subject of a number of research reports. UBS Group set a $251.00 price target on shares of AbbVie in a research note on Friday, October 3rd. HSBC set a $225.00 price target on shares of AbbVie in a research note on Thursday, October 2nd. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and increased their price target for the stock from $170.00 to $270.00 in a research note on Wednesday, September 17th. BMO Capital Markets increased their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Finally, Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $231.90.
Check Out Our Latest Report on ABBV
AbbVie Price Performance
Shares of NYSE ABBV opened at $230.88 on Monday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a 50 day simple moving average of $214.84 and a two-hundred day simple moving average of $196.71. The company has a market capitalization of $407.86 billion, a price-to-earnings ratio of 109.94, a P/E/G ratio of 1.42 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.
Insider Activity at AbbVie
In related news, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
About AbbVie
(
Free Report)
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.
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