Clearwater Capital Advisors LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Clearwater Capital Advisors LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,738 shares of the company’s stock after selling 57 shares during the period. Clearwater Capital Advisors LLC’s holdings in AbbVie were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cibc World Markets Corp increased its stake in shares of AbbVie by 16.3% during the 4th quarter. Cibc World Markets Corp now owns 278,787 shares of the company’s stock worth $49,540,000 after purchasing an additional 39,070 shares during the last quarter. GLOBALT Investments LLC GA increased its position in AbbVie by 20.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 23,138 shares of the company’s stock worth $4,112,000 after buying an additional 3,982 shares during the last quarter. RS Crum Inc. raised its stake in shares of AbbVie by 4.6% in the fourth quarter. RS Crum Inc. now owns 2,280 shares of the company’s stock valued at $405,000 after buying an additional 100 shares during the period. Signature Wealth Management Group lifted its position in shares of AbbVie by 2.0% during the 4th quarter. Signature Wealth Management Group now owns 25,452 shares of the company’s stock valued at $4,523,000 after buying an additional 505 shares during the last quarter. Finally, GWN Securities Inc. bought a new position in shares of AbbVie during the 4th quarter worth $2,402,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ABBV shares. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Guggenheim raised their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Activity

In other AbbVie news, 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 in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,639 shares of company stock valued at $11,067,025. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $211.90 on Monday. The company has a market capitalization of $374.07 billion, a P/E ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a fifty day moving average of $191.09 and a 200-day moving average of $188.05.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

About AbbVie

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.