Flagship Harbor Advisors LLC Buys 173 Shares of AbbVie Inc. (NYSE:ABBV)

Flagship Harbor Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,052 shares of the company’s stock after purchasing an additional 173 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in AbbVie were worth $5,873,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp increased its stake in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4 %

Shares of NYSE ABBV opened at $170.05 on Friday. The firm’s 50-day moving average price is $175.84 and its 200-day moving average price is $184.66. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.