Clarendon Private LLC Purchases Shares of 3,939 AbbVie Inc. (NYSE:ABBV)

Clarendon Private LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,939 shares of the company's stock, valued at approximately $700,000.

A number of other large investors have also recently bought and sold shares of the stock. GGM Financials LLC lifted its holdings in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc raised its position in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. raised its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after buying an additional 52 shares during the last quarter. First Citizens Financial Corp lifted its position in AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock valued at $1,141,000 after acquiring an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock valued at $2,710,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on 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 owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABBV. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. BMO Capital Markets lowered their price objective 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. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Citigroup decreased their target price on shares of AbbVie from $226.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.50.

AbbVie Stock Up 3.9 %

Shares of ABBV stock traded up $6.60 during trading hours on Monday, hitting $176.90. 6,984,200 shares of the company's stock traded hands, compared to its average volume of 6,118,210. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock's fifty day simple moving average is $175.84 and its two-hundred day simple moving average is $184.89. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock has a market cap of $312.60 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. 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 previous year, the business earned $2.95 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 10.06 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 issued a $1.64 dividend. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's payout ratio is presently 227.78%.

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.