1,466 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Clare Market Investments LLC

Clare Market Investments LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,466 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Grant Street Asset Management Inc. boosted its holdings in shares of AbbVie by 63.3% in the 4th quarter. Grant Street Asset Management Inc. now owns 5,798 shares of the company’s stock valued at $1,030,000 after buying an additional 2,247 shares in the last quarter. Vista Investment Partners II LLC acquired a new stake in AbbVie in the 4th quarter worth approximately $415,000. Morton Community Bank boosted its stake in AbbVie by 1.3% in the 4th quarter. Morton Community Bank now owns 26,784 shares of the company’s stock worth $4,760,000 after purchasing an additional 349 shares in the last quarter. Independent Advisor Alliance boosted its stake in AbbVie by 7.3% in the 4th quarter. Independent Advisor Alliance now owns 124,817 shares of the company’s stock worth $22,180,000 after purchasing an additional 8,480 shares in the last quarter. Finally, Paragon Private Wealth Management LLC boosted its stake in AbbVie by 10.2% in the 4th quarter. Paragon Private Wealth Management LLC now owns 13,341 shares of the company’s stock worth $2,371,000 after purchasing an additional 1,231 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $216.62 on Tuesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company’s fifty day moving average price is $188.44 and its 200 day moving average price is $187.61. The stock has a market capitalization of $382.41 billion, a P/E ratio of 90.26, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 last year, the firm posted $2.79 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.03%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 in the last 90 days. 0.25% of the stock is owned by insiders.

About AbbVie

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.