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

Clearstead Trust LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,766 shares of the company’s stock after selling 452 shares during the period. Clearstead Trust LLC’s holdings in AbbVie were worth $2,091,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Copperwynd Financial LLC bought a new position in AbbVie during the 4th quarter valued at $1,272,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at $896,000. Montis Financial LLC increased its position in shares of AbbVie by 7.0% during the 4th 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 increased its position in shares of AbbVie by 8.8% during the 4th 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 position in shares of AbbVie by 1.3% during the 4th quarter. United Capital Management of KS Inc. now owns 24,864 shares of the company’s stock valued at $4,418,000 after purchasing an additional 314 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of ABBV opened at $211.90 on Friday. The company has a market cap of $374.07 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. 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 stock has a 50-day moving average price of $191.09 and a 200-day moving average price of $188.16. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last issued 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 posted $2.79 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.