Clifford Swan Investment Counsel LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Clifford Swan Investment Counsel LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,920 shares of the company's stock after selling 2,581 shares during the quarter. AbbVie accounts for about 1.2% of Clifford Swan Investment Counsel LLC's investment portfolio, making the stock its 21st biggest position. Clifford Swan Investment Counsel LLC's holdings in AbbVie were worth $32,249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ABBV. Steel Grove Capital Advisors LLC lifted its stake in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its stake in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after buying an additional 57 shares in the last quarter. Castle Wealth Management LLC lifted its stake in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after buying an additional 57 shares in the last quarter. Finally, Northstar Group Inc. lifted its position in shares of AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 0.3%

ABBV stock traded down $0.59 during mid-day trading on Monday, reaching $188.67. 369,503 shares of the stock traded hands, compared to its average volume of 6,304,155. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The stock has a market capitalization of $333.27 billion, a PE ratio of 80.29, a PEG ratio of 1.25 and a beta of 0.48. The business has a 50-day moving average price of $187.17 and a two-hundred day moving average price of $189.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

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.

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