Clearstead Trust LLC Sells 2,014 Shares of AbbVie Inc. (NYSE:ABBV)

Clearstead Trust LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,121 shares of the company’s stock after selling 2,014 shares during the period. AbbVie comprises approximately 0.6% of Clearstead Trust LLC’s portfolio, making the stock its 29th biggest holding. Clearstead Trust LLC’s holdings in AbbVie were worth $2,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Altfest L J & Co. Inc. lifted its stake in AbbVie by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after acquiring an additional 215 shares during the period. Torray Investment Partners LLC lifted its position in AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after buying an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. lifted its position in AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after buying an additional 4,633 shares during the period. Amplius Wealth Advisors LLC lifted its position in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the period. Finally, Opinicus Capital Inc. purchased a new position in AbbVie during the fourth quarter valued at $1,296,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV stock traded up $2.98 during trading hours on Friday, reaching $163.79. 5,850,102 shares of the company traded hands, compared to its average volume of 5,457,836. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market cap of $290.01 billion, a P/E ratio of 48.60, a P/E/G ratio of 2.03 and a beta of 0.61. The firm has a 50-day moving average price of $173.13 and a 200 day moving average price of $161.22.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm earned $2.46 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.79%. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report 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 report on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

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.