Ariadne Wealth Management LP Has $1.27 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Ariadne Wealth Management LP grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,038 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Ariadne Wealth Management LP’s holdings in AbbVie were worth $1,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. GAMMA Investing LLC lifted its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Nuveen LLC acquired a new position in AbbVie in the first quarter valued at approximately $1,819,154,000. Goldman Sachs Group Inc. boosted its holdings in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of AbbVie by 27.4% during the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company’s stock worth $1,735,969,000 after buying an additional 2,102,273 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABBV shares. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $214.43.

AbbVie Trading Up 0.2%

NYSE ABBV opened at $198.46 on Tuesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock has a market capitalization of $350.59 billion, a price-to-earnings ratio of 94.50, a PEG ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The business’s fifty day moving average is $189.88 and its 200-day moving average is $191.55.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

AbbVie Company 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.