Clear Rock Advisors LLC Buys 141 Shares of AbbVie Inc. (NYSE:ABBV)

Clear Rock Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,921 shares of the company’s stock after purchasing an additional 141 shares during the period. AbbVie accounts for 1.6% of Clear Rock Advisors LLC’s holdings, making the stock its 16th biggest position. Clear Rock Advisors LLC’s holdings in AbbVie were worth $3,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American National Bank increased its holdings in shares of AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares during the last quarter. AXS Investments LLC increased its holdings in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after acquiring an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares during the last quarter. Finally, Opinicus Capital Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $1,296,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’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 transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Wells Fargo & Company upped 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. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. BMO Capital Markets upped their price objective on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Barclays upped their price objective on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.71.

AbbVie Price Performance

Shares of ABBV stock traded down $0.42 on Friday, hitting $189.29. 6,303,909 shares of the company’s stock were exchanged, compared to its average volume of 5,147,175. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $334.26 billion, a P/E ratio of 56.17, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $193.91. The company has a 50 day moving average of $170.28 and a 200 day moving average of $170.36.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. AbbVie’s payout ratio is 183.98%.

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.