Two Sigma Advisers LP Has $410.16 Million Holdings in AbbVie Inc (NYSE:ABBV)

Two Sigma Advisers LP boosted its stake in AbbVie Inc (NYSE:ABBV) by 60.6% in the 2nd quarter, Holdings Channel reports. The firm owned 4,177,587 shares of the company’s stock after acquiring an additional 1,576,465 shares during the quarter. AbbVie accounts for approximately 1.2% of Two Sigma Advisers LP’s portfolio, making the stock its 8th largest position. Two Sigma Advisers LP’s holdings in AbbVie were worth $410,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capstone Financial Group Inc. bought a new position in AbbVie in the 2nd quarter worth about $25,000. Lake Point Wealth Management boosted its stake in AbbVie by 179.4% in the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock worth $36,000 after purchasing an additional 305 shares during the period. NWK Group Inc. bought a new position in AbbVie in the 1st quarter worth about $42,000. RMR Wealth Builders bought a new position in AbbVie in the 2nd quarter worth about $44,000. Finally, Weaver Consulting Group raised its holdings in shares of AbbVie by 64.3% in the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock valued at $55,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 68.23% of the company’s stock.

Several analysts have weighed in on ABBV shares. Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating in a report on Tuesday, June 9th. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Evercore ISI started coverage on AbbVie in a report on Wednesday, June 10th. They issued a “buy” rating and a $111.00 price target on the stock. Royal Bank of Canada raised their price target on AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the company from $91.40 to $115.00 in a report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. AbbVie has an average rating of “Buy” and an average target price of $108.33.

In other news, Vice Chairman Carlos Alban sold 53,325 shares of AbbVie stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total value of $5,332,500.00. Following the sale, the insider now directly owns 137,899 shares in the company, valued at approximately $13,789,900. The sale was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

ABBV traded down $1.13 on Wednesday, hitting $89.78. 6,302,844 shares of the company were exchanged, compared to its average volume of 10,050,307. The firm has a fifty day simple moving average of $93.70 and a two-hundred day simple moving average of $89.40. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $101.28. The stock has a market capitalization of $159.70 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.75.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the company earned $2.26 EPS. AbbVie’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities analysts expect that AbbVie Inc will post 10.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a $1.18 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.26%. AbbVie’s dividend payout ratio is currently 52.80%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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