Harbour Investments Inc. Acquires 780 Shares of AbbVie Inc. (NYSE:ABBV)

Harbour Investments Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,958 shares of the company’s stock after acquiring an additional 780 shares during the period. Harbour Investments Inc.’s holdings in AbbVie were worth $4,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Groupama Asset Managment boosted its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $31,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

ABBV opened at $211.90 on Monday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The stock’s fifty day moving average is $191.09 and its two-hundred day moving average is $188.05. The company has a market capitalization of $374.07 billion, a P/E ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the company earned $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial raised their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

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.