Clearstead Trust LLC Sells 452 Shares of AbbVie Inc. (NYSE:ABBV)

Clearstead Trust LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,766 shares of the company’s stock after selling 452 shares during the quarter. Clearstead Trust LLC’s holdings in AbbVie were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Copperwynd Financial LLC bought a new stake in AbbVie in the fourth quarter valued at approximately $1,272,000. Greykasell Wealth Strategies Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $896,000. Montis Financial LLC lifted its position in AbbVie by 7.0% in the fourth quarter. Montis Financial LLC now owns 2,828 shares of the company’s stock valued at $503,000 after purchasing an additional 186 shares during the last quarter. Zevin Asset Management LLC lifted its position in AbbVie by 8.8% in the fourth quarter. Zevin Asset Management LLC now owns 82,691 shares of the company’s stock valued at $14,694,000 after purchasing an additional 6,668 shares during the last quarter. Finally, United Capital Management of KS Inc. increased its stake in shares of AbbVie by 1.3% during the fourth quarter. United Capital Management of KS Inc. now owns 24,864 shares of the company’s stock valued at $4,418,000 after buying an additional 314 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.2 %

AbbVie stock opened at $211.90 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business’s fifty day simple moving average is $191.09 and its two-hundred day simple moving average is $188.16. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a market capitalization of $374.07 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company earned $2.79 EPS. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Finally, Morgan Stanley boosted their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.45.

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.