Almanack Investment Partners LLC. Increases Holdings in AbbVie Inc. $ABBV

Almanack Investment Partners LLC. lifted its position in AbbVie Inc. (NYSE:ABBV) by 640.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,554 shares of the company’s stock after purchasing an additional 9,128 shares during the period. Almanack Investment Partners LLC.’s holdings in AbbVie were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the period. GAMMA Investing LLC lifted its holdings in AbbVie by 23.8% in the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after acquiring an additional 9,395 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AbbVie by 5.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 536,450 shares of the company’s stock worth $112,398,000 after acquiring an additional 25,385 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in shares of AbbVie by 6.0% during the 1st quarter. Hennessy Advisors Inc. now owns 31,900 shares of the company’s stock worth $6,684,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Morgan Stanley lifted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. HSBC set a $225.00 price target on shares of AbbVie in a research note on Thursday, October 2nd. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Up 0.1%

ABBV opened at $230.88 on Monday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The firm’s fifty day moving average is $214.84 and its 200 day moving average is $196.71. The stock has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter last year, the firm posted $2.65 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is presently 312.38%.

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.