Clarius Group LLC Has $4.02 Million Stock Position in AbbVie Inc. $ABBV

Clarius Group LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 7.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,659 shares of the company’s stock after purchasing an additional 1,511 shares during the period. Clarius Group LLC’s holdings in AbbVie were worth $4,020,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its position in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Signal Advisors Wealth LLC lifted its position in AbbVie by 5.5% during the first quarter. Signal Advisors Wealth LLC now owns 1,733 shares of the company’s stock worth $363,000 after acquiring an additional 91 shares during the last quarter. Pitti Group Wealth Management LLC acquired a new stake in AbbVie during the first quarter worth approximately $213,000. Finally, Pines Wealth Management LLC lifted its position in AbbVie by 2.1% during the first quarter. Pines Wealth Management LLC now owns 5,780 shares of the company’s stock worth $1,211,000 after acquiring an additional 117 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on ABBV. BMO Capital Markets raised their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. HSBC set a $225.00 price target on shares of AbbVie in a research report on Thursday. Morgan Stanley lifted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.22.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $234.07 on Friday. The firm has a market cap of $413.49 billion, a PE ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The firm’s fifty day moving average is $210.77 and its 200-day moving average is $195.90. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is presently 312.38%.

Insider Buying and Selling at AbbVie

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

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.