Wealthstream Advisors Inc. Has $378,000 Position in AbbVie Inc. $ABBV

Wealthstream Advisors Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,037 shares of the company’s stock after acquiring an additional 130 shares during the period. Wealthstream Advisors Inc.’s holdings in AbbVie were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ABBV. Brighton Jones LLC boosted its position in shares of AbbVie by 17.4% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of AbbVie by 72.7% during the 4th 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of AbbVie by 23.8% during the 1st 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 in the last quarter. Boston Trust Walden Corp boosted its position in shares of AbbVie by 0.8% during the 1st quarter. Boston Trust Walden Corp now owns 25,800 shares of the company’s stock valued at $5,406,000 after acquiring an additional 195 shares in the last quarter. Finally, Advisor Resource Council acquired a new stake in shares of AbbVie during the 1st quarter valued at about $1,853,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.2%

Shares of NYSE ABBV opened at $229.66 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a market cap of $405.71 billion, a PE ratio of 109.36, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a 50-day moving average of $217.91 and a two-hundred day moving average of $197.55.

AbbVie (NYSE:ABBV) last announced 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 return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s payout ratio is currently 312.38%.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Raymond James Financial reissued an “outperform” rating and set a $250.00 price target (up from $236.00) on shares of AbbVie in a report on Friday. Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. Two equities research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $234.05.

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.