AbbVie Inc. (NYSE:ABBV) Position Increased by Intellectus Partners LLC

Intellectus Partners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 119.8% during the second quarter, Holdings Channel.com reports. The firm owned 9,310 shares of the company’s stock after buying an additional 5,075 shares during the period. Intellectus Partners LLC’s holdings in AbbVie were worth $1,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cherry Creek Investment Advisors Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at about $2,886,000. Blackhill Capital Inc. increased its holdings in AbbVie by 1.7% in the second quarter. Blackhill Capital Inc. now owns 251,760 shares of the company’s stock worth $28,358,000 after buying an additional 4,200 shares during the last quarter. Natixis increased its holdings in AbbVie by 5,415.3% in the second quarter. Natixis now owns 660,187 shares of the company’s stock worth $74,363,000 after buying an additional 648,217 shares during the last quarter. TrinityPoint Wealth LLC increased its holdings in AbbVie by 0.9% in the second quarter. TrinityPoint Wealth LLC now owns 49,405 shares of the company’s stock worth $5,565,000 after buying an additional 423 shares during the last quarter. Finally, Toroso Investments LLC increased its holdings in AbbVie by 68.7% in the second quarter. Toroso Investments LLC now owns 28,808 shares of the company’s stock worth $3,245,000 after buying an additional 11,733 shares during the last quarter. Institutional investors own 65.82% of the company’s stock.

NYSE ABBV traded down $0.20 during trading on Thursday, hitting $108.33. The stock had a trading volume of 79,671 shares, compared to its average volume of 7,008,608. The company has a market capitalization of $191.44 billion, a PE ratio of 29.10, a P/E/G ratio of 2.01 and a beta of 0.82. The company’s 50-day moving average price is $112.16 and its two-hundred day moving average price is $113.04. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.79 and a current ratio of 0.91. AbbVie Inc. has a 12 month low of $79.11 and a 12 month high of $121.53.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 29th. The company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.02. The firm had revenue of $13.96 billion for the quarter, compared to analyst estimates of $13.64 billion. AbbVie had a return on equity of 154.24% and a net margin of 12.40%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, October 14th. AbbVie’s dividend payout ratio (DPR) is 49.24%.

In related news, SVP Carrie C. Strom sold 5,057 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $120.00, for a total transaction of $606,840.00. Following the transaction, the senior vice president now directly owns 11,595 shares of the company’s stock, valued at approximately $1,391,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

A number of research firms recently commented on ABBV. Barclays increased their price objective on AbbVie from $105.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Mizuho increased their price objective on AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. SVB Leerink dropped their price objective on AbbVie from $148.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, September 2nd. Morgan Stanley reiterated a “buy” rating and set a $116.00 price target on shares of AbbVie in a report on Friday, August 20th. Finally, Cowen increased their price target on AbbVie from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $125.29.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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