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

Harbor Advisory Corp MA raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,145 shares of the company’s stock after acquiring an additional 250 shares during the quarter. AbbVie makes up approximately 1.6% of Harbor Advisory Corp MA’s investment portfolio, making the stock its 24th largest position. Harbor Advisory Corp MA’s holdings in AbbVie were worth $4,768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the 2nd quarter valued at $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter worth $39,000. Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the 1st quarter worth $37,000. Finally, Quest Partners LLC raised its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.3 %

NYSE:ABBV traded up $0.59 on Tuesday, hitting $187.13. The stock had a trading volume of 466,918 shares, compared to its average volume of 5,273,668. The company has a fifty day moving average price of $194.37 and a two-hundred day moving average price of $177.88. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock has a market cap of $330.45 billion, a price-to-earnings ratio of 55.33, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the business posted $2.91 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.31%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Bank of America boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Piper Sandler lifted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, UBS Group increased their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.47.

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.