AbbVie Inc. (NYSE:ABBV) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 4.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 22,178 shares of the company’s stock after selling 943 shares during the quarter. Harbour Investments Inc.’s holdings in AbbVie were worth $4,380,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the 2nd quarter worth $27,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the third quarter valued at about $39,000. Finally, Burkett Financial Services LLC grew its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.9 %

Shares of NYSE:ABBV opened at $171.10 on Wednesday. AbbVie Inc. has a 12-month low of $136.30 and a 12-month high of $207.32. The stock’s 50-day moving average price is $194.14 and its two-hundred day moving average price is $180.83. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64. The firm has a market cap of $302.36 billion, a price-to-earnings ratio of 60.07, a PEG ratio of 2.44 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the company earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Truist Financial upped their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.06.

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.