Clarity Wealth Advisors LLC Has $2.37 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Clarity Wealth Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,872 shares of the company’s stock after purchasing an additional 601 shares during the quarter. AbbVie accounts for 1.3% of Clarity Wealth Advisors LLC’s portfolio, making the stock its 24th largest holding. Clarity Wealth Advisors LLC’s holdings in AbbVie were worth $2,367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raab & Moskowitz Asset Management LLC boosted its holdings in shares of AbbVie by 151.8% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 28,256 shares of the company’s stock worth $3,057,000 after acquiring an additional 17,035 shares in the last quarter. Dividend Assets Capital LLC raised its position in AbbVie by 4.9% in the 1st quarter. Dividend Assets Capital LLC now owns 2,149 shares of the company’s stock worth $233,000 after purchasing an additional 100 shares during the last quarter. Park Avenue Securities LLC raised its position in AbbVie by 18.2% in the 1st quarter. Park Avenue Securities LLC now owns 47,755 shares of the company’s stock worth $5,168,000 after purchasing an additional 7,370 shares during the last quarter. JJJ Advisors Inc. raised its position in AbbVie by 96.7% in the 1st quarter. JJJ Advisors Inc. now owns 724 shares of the company’s stock worth $78,000 after purchasing an additional 356 shares during the last quarter. Finally, New England Investment & Retirement Group Inc. raised its position in AbbVie by 1.0% in the 1st quarter. New England Investment & Retirement Group Inc. now owns 51,194 shares of the company’s stock worth $5,540,000 after purchasing an additional 503 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on ABBV shares. Royal Bank of Canada started coverage on shares of AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 price objective for the company. Mizuho boosted their price objective on shares of AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Tuesday, February 9th. BMO Capital Markets upped their target price on shares of AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler upped their target price on shares of AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $116.94.

In other news, SVP Elaine K. Sorg sold 8,440 shares of the company’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total value of $916,668.40. Following the sale, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at approximately $2,827,661.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of the company’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at $48,981,046.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,067 shares of company stock valued at $21,511,667. Company insiders own 0.09% of the company’s stock.

NYSE ABBV traded up $0.50 on Tuesday, reaching $115.18. The company had a trading volume of 77,145 shares, compared to its average volume of 7,254,007. The firm has a market capitalization of $203.27 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95. AbbVie Inc. has a 1-year low of $79.11 and a 1-year high of $115.10. The company’s fifty day moving average is $107.82 and its 200-day moving average is $103.84.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.84 billion. During the same period in the prior year, the business earned $2.42 EPS. The company’s revenue for the quarter was up 50.9% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.51%. AbbVie’s dividend payout ratio is 58.17%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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