Clayton Partners LLC Has $3.47 Million Stake in AbbVie Inc. (NYSE:ABBV)

Clayton Partners LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,244 shares of the company’s stock after selling 227 shares during the quarter. AbbVie comprises 2.8% of Clayton Partners LLC’s portfolio, making the stock its 15th biggest position. Clayton Partners LLC’s holdings in AbbVie were worth $3,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors raised its position in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. TD Asset Management Inc lifted its holdings in shares of AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after purchasing an additional 2,116,997 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of AbbVie in the 1st quarter valued at approximately $367,372,000. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of AbbVie stock opened at $193.46 on Friday. The stock has a market cap of $341.62 billion, a P/E ratio of 57.41, a P/E/G ratio of 2.66 and a beta of 0.64. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The business’s 50 day moving average is $189.35 and its 200-day moving average is $175.82.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the firm posted $2.91 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Barclays upped their target price on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. BMO Capital Markets upped their price objective on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Morgan Stanley lifted their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $191.64.

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.