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.
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 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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