Clarendon Private LLC Grows Position in AbbVie Inc. $ABBV

Clarendon Private LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,597 shares of the company’s stock after acquiring an additional 93 shares during the quarter. Clarendon Private LLC’s holdings in AbbVie were worth $853,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Dohj LLC raised its position in AbbVie by 41.8% in the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock worth $802,000 after acquiring an additional 1,335 shares in the last quarter. First Hawaiian Bank raised its position in AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock worth $1,403,000 after acquiring an additional 60 shares in the last quarter. Narus Financial Partners LLC raised its position in AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after acquiring an additional 401 shares in the last quarter. BankPlus Trust Department increased its position in shares of AbbVie by 3.3% in the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after buying an additional 855 shares in the last quarter. Finally, Highland Capital Management LLC increased its position in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after buying an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.1%

AbbVie stock opened at $230.88 on Friday. The stock has a market cap of $407.86 billion, a PE ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The stock has a 50-day moving average price of $214.84 and a 200 day moving average price of $196.76. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Evercore ISI raised their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Wednesday. Finally, Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

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.