AbbVie Inc. (NYSE:ABBV) Position Lifted by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 44.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,549 shares of the company’s stock after purchasing an additional 5,437 shares during the quarter. AbbVie makes up 1.2% of Alpha DNA Investment Management LLC’s holdings, making the stock its 6th largest position. Alpha DNA Investment Management LLC’s holdings in AbbVie were worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. NBW Capital LLC grew its holdings in AbbVie by 1,167.8% in the second quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock worth $6,635,000 after purchasing an additional 35,631 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in AbbVie by 60.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 339,155 shares of the company’s stock worth $58,172,000 after buying an additional 127,638 shares during the last quarter. Semmax Financial Advisors Inc. grew its stake in AbbVie by 33.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock worth $101,000 after buying an additional 146 shares during the last quarter. Distillate Capital Partners LLC increased its position in AbbVie by 364,292.5% during the 2nd quarter. Distillate Capital Partners LLC now owns 291,514 shares of the company’s stock valued at $50,000,000 after buying an additional 291,434 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in AbbVie by 9.2% in the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock valued at $641,000 after buying an additional 316 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $193.60 on Wednesday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock has a market capitalization of $341.87 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 2.66 and a beta of 0.64. The firm’s 50 day simple moving average is $190.36 and its 200-day simple moving average is $175.96.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the company earned $2.91 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABBV shares. Morgan Stanley boosted their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $191.64.

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.