Clarity Financial LLC Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Clarity Financial LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,746 shares of the company’s stock after acquiring an additional 12,121 shares during the period. AbbVie makes up approximately 3.8% of Clarity Financial LLC’s holdings, making the stock its 5th largest holding. Clarity Financial LLC’s holdings in AbbVie were worth $32,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. Capital International Investors boosted its holdings in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

ABBV stock opened at $200.47 on Tuesday. The business’s fifty day moving average is $194.18 and its 200-day moving average is $179.85. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market cap of $354.10 billion, a P/E ratio of 69.61, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets boosted their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup upped their price objective on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.00.

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.