Harbor Investment Advisory LLC Sells 539 Shares of AbbVie Inc. (NYSE:ABBV)

Harbor Investment Advisory LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 21,792 shares of the company’s stock after selling 539 shares during the quarter. Harbor Investment Advisory LLC’s holdings in AbbVie were worth $3,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. raised its holdings in AbbVie by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock worth $1,952,000 after buying an additional 130 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of AbbVie by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 139,900 shares of the company’s stock worth $23,996,000 after acquiring an additional 350 shares during the last quarter. Fairscale Capital LLC bought a new position in AbbVie in the 2nd quarter valued at about $86,000. EverSource Wealth Advisors LLC boosted its stake in AbbVie by 27.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,662 shares of the company’s stock valued at $1,605,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. increased its holdings in AbbVie by 11.0% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 59,360 shares of the company’s stock worth $10,181,000 after purchasing an additional 5,900 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

ABBV opened at $171.49 on Tuesday. The firm has a 50-day moving average price of $175.78 and a 200-day moving average price of $184.75. The company has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. Equities analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial lowered their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Finally, Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.