Two Sigma Advisers LP Acquires 1,576,465 Shares of AbbVie Inc (NYSE:ABBV)

Two Sigma Advisers LP raised its position in AbbVie Inc (NYSE:ABBV) by 60.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,177,587 shares of the company’s stock after buying an additional 1,576,465 shares during the period. AbbVie comprises about 1.2% of Two Sigma Advisers LP’s portfolio, making the stock its 8th largest holding. Two Sigma Advisers LP owned approximately 0.24% of AbbVie worth $410,155,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ABBV. Integrated Investment Consultants LLC grew its stake in shares of AbbVie by 1.1% during the 2nd quarter. Integrated Investment Consultants LLC now owns 9,834 shares of the company’s stock worth $966,000 after acquiring an additional 109 shares in the last quarter. Old North State Trust LLC grew its stake in shares of AbbVie by 1.6% in the second quarter. Old North State Trust LLC now owns 7,033 shares of the company’s stock valued at $690,000 after buying an additional 110 shares in the last quarter. Quad Cities Investment Group LLC grew its stake in shares of AbbVie by 2.9% in the second quarter. Quad Cities Investment Group LLC now owns 4,181 shares of the company’s stock valued at $411,000 after buying an additional 117 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its stake in shares of AbbVie by 1.0% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 11,889 shares of the company’s stock valued at $1,167,000 after buying an additional 117 shares in the last quarter. Finally, Inlet Private Wealth LLC grew its stake in shares of AbbVie by 0.5% in the second quarter. Inlet Private Wealth LLC now owns 24,876 shares of the company’s stock valued at $2,442,000 after buying an additional 121 shares in the last quarter. Institutional investors own 68.23% of the company’s stock.

Shares of ABBV traded down $1.13 during midday trading on Wednesday, reaching $89.78. 6,302,844 shares of the stock were exchanged, compared to its average volume of 10,050,307. AbbVie Inc has a twelve month low of $62.55 and a twelve month high of $101.28. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. The company has a market cap of $159.70 billion, a P/E ratio of 19.10, a PEG ratio of 1.45 and a beta of 0.75. The stock’s 50 day simple moving average is $93.70 and its 200 day simple moving average is $89.40.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Wednesday, October 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

Several research firms recently weighed in on ABBV. TheStreet raised shares of AbbVie from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Evercore ISI began coverage on shares of AbbVie in a research note on Wednesday, June 10th. They issued a “buy” rating and a $111.00 target price for the company. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating and raised their target price for the company from $91.40 to $115.00 in a research note on Tuesday, June 2nd. Piper Sandler raised their target price on shares of AbbVie from $97.00 to $110.00 in a research note on Wednesday, June 10th. Finally, Citigroup lifted their price objective on shares of AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $108.33.

In related news, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 137,899 shares of the company’s stock, valued at $13,789,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

About AbbVie

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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