Clear Harbor Asset Management LLC Sells 869 Shares of AbbVie Inc. (NYSE:ABBV)

Clear Harbor Asset Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,191 shares of the company’s stock after selling 869 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in AbbVie were worth $5,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABBV. VitalStone Financial LLC grew its stake in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after buying an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC bought a new stake in AbbVie during the 3rd quarter worth $36,000. PCA Investment Advisory Services Inc. acquired a new position in AbbVie in the 2nd quarter worth about $38,000. True Wealth Design LLC bought a new position in AbbVie in the fourth quarter valued at about $39,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABBV shares. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. HSBC lowered AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Up 0.9 %

NYSE ABBV traded up $1.62 on Thursday, reaching $181.97. The company had a trading volume of 5,418,371 shares, compared to its average volume of 5,696,566. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $322.21 billion, a P/E ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58. The company’s fifty day moving average is $174.51 and its 200 day moving average is $157.96. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by 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.