Harbor Advisory Corp MA Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Harbor Advisory Corp MA reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,979 shares of the company’s stock after selling 650 shares during the period. AbbVie makes up approximately 1.4% of Harbor Advisory Corp MA’s portfolio, making the stock its 25th biggest holding. Harbor Advisory Corp MA’s holdings in AbbVie were worth $4,026,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 3rd quarter worth $45,000. Core Wealth Advisors Inc. lifted its position in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the last quarter. Finally, Naples Money Management LLC purchased a new stake in AbbVie in the fourth quarter valued at $53,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

ABBV stock traded down $0.02 during midday trading on Monday, reaching $159.60. 1,909,616 shares of the company were exchanged, compared to its average volume of 5,609,302. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The business has a 50-day moving average price of $174.59 and a two-hundred day moving average price of $160.90. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market capitalization of $282.60 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

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.