AbbVie Inc. $ABBV Holdings Raised by Wealthstream Advisors Inc.

Wealthstream Advisors Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,037 shares of the company’s stock after buying an additional 130 shares during the quarter. Wealthstream Advisors Inc.’s holdings in AbbVie were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC raised its holdings in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC bought a new position in shares of AbbVie during the 1st quarter valued at $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the 1st quarter valued at $35,000. Finally, Bear Mountain Capital Inc. raised its holdings in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $229.66 on Friday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The firm’s fifty day simple moving average is $217.91 and its 200 day simple moving average is $197.55. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $405.71 billion, a PE ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. UBS Group set a $251.00 price target on shares of AbbVie in a report on Friday, October 3rd. Bank of America raised their price target on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Guggenheim raised their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.05.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.