Clarus Wealth Advisors Takes $217,000 Position in AbbVie Inc. (NYSE:ABBV)

Clarus Wealth Advisors purchased a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,328 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. State Street Corp raised its position in shares of AbbVie by 1.5% in the second quarter. State Street Corp now owns 78,182,567 shares of the company’s stock valued at $10,533,537,000 after buying an additional 1,156,130 shares during the last quarter. Morgan Stanley lifted its stake in shares of AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after acquiring an additional 29,170,366 shares during the last quarter. Finally, Northern Trust Corp lifted its position in AbbVie by 2.3% during the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after buying an additional 491,391 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $177.43.

Read Our Latest Research Report on AbbVie

AbbVie Trading Up 1.0 %

AbbVie stock opened at $182.10 on Monday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The stock has a market cap of $322.44 billion, a PE ratio of 66.70, a P/E/G ratio of 2.31 and a beta of 0.58. The stock has a 50-day moving average price of $175.23 and a 200 day moving average price of $158.42. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. Equities research analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.40%. AbbVie’s payout ratio is currently 227.11%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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