Claris Financial LLC Makes New $1.79 Million Investment in AbbVie Inc. $ABBV

Claris Financial LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 7,840 shares of the company’s stock, valued at approximately $1,791,000. AbbVie accounts for 1.0% of Claris Financial LLC’s holdings, making the stock its 18th largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. TMB Capital Partners LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $2,992,000. Invesco Ltd. increased its position in shares of AbbVie by 9.0% during the 4th quarter. Invesco Ltd. now owns 8,107,480 shares of the company’s stock valued at $1,852,478,000 after purchasing an additional 668,658 shares during the last quarter. Michels Family Financial LLC raised its stake in shares of AbbVie by 2.1% in the fourth quarter. Michels Family Financial LLC now owns 2,477 shares of the company’s stock valued at $566,000 after acquiring an additional 52 shares during the period. Evansbrook LLC purchased a new stake in AbbVie in the 4th quarter worth about $796,000. Finally, Harbour Wealth Management Group Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $713,000. 70.23% of the stock is currently owned by institutional investors.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

AbbVie Price Performance

NYSE ABBV opened at $216.63 on Friday. The stock’s fifty day moving average price is $212.08 and its 200 day moving average price is $218.78. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The company has a market cap of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. Research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s payout ratio is 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. William Blair reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Piper Sandler increased their target price on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Barclays assumed coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target for the company. Finally, Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.