Clifford Swan Investment Counsel LLC Sells 371 Shares of AbbVie Inc. (NYSE:ABBV)

Clifford Swan Investment Counsel LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,501 shares of the company’s stock after selling 371 shares during the period. AbbVie accounts for 1.0% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 25th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in AbbVie were worth $27,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Kohmann Bosshard Financial Services LLC increased its position in shares of AbbVie by 5.1% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 2,509 shares of the company’s stock worth $446,000 after acquiring an additional 122 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of AbbVie by 18.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 22,718 shares of the company’s stock worth $4,003,000 after acquiring an additional 3,489 shares in the last quarter. Cape Investment Advisory Inc. increased its position in shares of AbbVie by 16.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,612 shares of the company’s stock worth $286,000 after acquiring an additional 224 shares in the last quarter. Purkiss Capital Advisors LLC bought a new stake in shares of AbbVie during the fourth quarter worth about $582,000. Finally, Keynote Financial Services LLC increased its position in shares of AbbVie by 0.6% during the fourth quarter. Keynote Financial Services LLC now owns 40,999 shares of the company’s stock worth $7,286,000 after acquiring an additional 246 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 2.0 %

ABBV opened at $209.07 on Friday. The company has a 50 day moving average of $184.42 and a 200 day moving average of $186.95. The company has a market cap of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $209.60. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were 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 of the company’s stock, 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 ninety days, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their price objective 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. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.