Clearview Wealth Advisors LLC Sells 106 Shares of AbbVie Inc. (NYSE:ABBV)

Clearview Wealth Advisors LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 4,018 shares of the company’s stock after selling 106 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in AbbVie were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. West Coast Financial LLC boosted its stake in shares of AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares during the period. FCG Investment Co purchased a new stake in shares of AbbVie during the first quarter valued at approximately $1,413,000. Safeguard Financial LLC purchased a new stake in shares of AbbVie during the first quarter valued at approximately $235,000. BluePath Capital Management LLC lifted its stake in AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after acquiring an additional 67 shares during the period. Finally, Palisade Asset Management LLC lifted its stake in AbbVie by 65.6% in the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after acquiring an additional 38,562 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 1.1 %

Shares of NYSE:ABBV opened at $191.86 on Wednesday. The stock has a market capitalization of $338.80 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock’s 50-day simple moving average is $194.44 and its two-hundred day simple moving average is $177.54. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm posted $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.23%. AbbVie’s payout ratio is currently 183.98%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

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.