Clearview Wealth Advisors LLC Sells 106 Shares of AbbVie Inc. (NYSE:ABBV)

Clearview Wealth Advisors LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,018 shares of the company’s stock after selling 106 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in AbbVie were worth $794,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter valued at $27,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $36,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Redmont Wealth Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $37,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $191.86 on Wednesday. The company has a market cap of $338.80 billion, a PE ratio of 56.93, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm’s 50-day simple moving average is $194.44 and its two-hundred day simple moving average is $177.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the business posted $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ABBV shares. Piper Sandler boosted their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley upped their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. UBS Group upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets upped their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.00.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

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.