Alpha DNA Investment Management LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

Alpha DNA Investment Management LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 33.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,728 shares of the company’s stock after selling 5,821 shares during the period. AbbVie accounts for 0.9% of Alpha DNA Investment Management LLC’s portfolio, making the stock its 11th largest holding. Alpha DNA Investment Management LLC’s holdings in AbbVie were worth $2,316,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in AbbVie by 16.6% in the third quarter. Larson Financial Group LLC now owns 18,812 shares of the company’s stock worth $3,715,000 after purchasing an additional 2,680 shares during the last quarter. Baltimore Washington Financial Advisors Inc. purchased a new position in AbbVie in the third quarter worth about $203,000. StoneX Group Inc. lifted its stake in shares of AbbVie by 7.0% in the 3rd quarter. StoneX Group Inc. now owns 32,720 shares of the company’s stock valued at $6,462,000 after purchasing an additional 2,138 shares during the last quarter. Truepoint Inc. increased its position in shares of AbbVie by 34.0% during the 3rd quarter. Truepoint Inc. now owns 2,256 shares of the company’s stock valued at $446,000 after purchasing an additional 573 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in AbbVie during the 3rd quarter valued at $1,436,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Guggenheim boosted their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup reduced their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Trading Up 3.0 %

NYSE ABBV opened at $176.95 on Friday. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The company has a 50 day moving average price of $189.47 and a 200 day moving average price of $181.17. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap of $312.70 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

AbbVie Company 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.