Claro Advisors LLC Sells 666 Shares of AbbVie Inc. (NYSE:ABBV)

Claro Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,296 shares of the company’s stock after selling 666 shares during the quarter. Claro Advisors LLC’s holdings in AbbVie were worth $3,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. International Assets Investment Management LLC acquired a new position in AbbVie during the 4th quarter valued at $41,416,000. Gilbert & Cook Inc. grew its position in AbbVie by 9.8% during the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after buying an additional 861 shares in the last quarter. Aveo Capital Partners LLC increased its stake in AbbVie by 5.1% during the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $666,000 after acquiring an additional 210 shares during the period. 9258 Wealth Management LLC raised its holdings in AbbVie by 1.7% in the 4th quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after acquiring an additional 283 shares in the last quarter. Finally, Avalon Trust Co lifted its position in shares of AbbVie by 8.9% in the 4th quarter. Avalon Trust Co now owns 4,050 shares of the company’s stock worth $628,000 after acquiring an additional 330 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.6 %

Shares of ABBV traded up $1.13 on Friday, hitting $196.31. The company’s stock had a trading volume of 3,820,802 shares, compared to its average volume of 4,444,877. The firm’s fifty day moving average price is $181.44 and its 200-day moving average price is $173.93. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $198.30. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $346.75 billion, a price-to-earnings ratio of 58.25, a P/E/G ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 EPS. On average, equities research analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.16%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ABBV shares. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Morgan Stanley upped their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. BMO Capital Markets upped their price target on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company lifted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.