Cliftonlarsonallen Wealth Advisors LLC Sells 107 Shares of AbbVie Inc. (NYSE:ABBV)

Cliftonlarsonallen Wealth Advisors LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 21,586 shares of the company’s stock after selling 107 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in AbbVie were worth $3,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC boosted its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Truist Financial reduced their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $205.50.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Down 2.4 %

NYSE:ABBV opened at $171.32 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a 50-day moving average price of $177.47 and a two-hundred day moving average price of $184.63. The stock has a market cap of $302.75 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. As a group, equities analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s dividend payout ratio is currently 227.78%.

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.