Harbor Investment Advisory LLC Has $3.79 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Harbor Investment Advisory LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,783 shares of the company’s stock after acquiring an additional 141 shares during the quarter. Harbor Investment Advisory LLC’s holdings in AbbVie were worth $3,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Consolidated Portfolio Review Corp lifted its holdings in AbbVie by 3.4% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 3,247 shares of the company’s stock worth $484,000 after buying an additional 106 shares in the last quarter. Pegasus Partners Ltd. raised its position in shares of AbbVie by 14.6% during the 3rd quarter. Pegasus Partners Ltd. now owns 5,147 shares of the company’s stock valued at $767,000 after acquiring an additional 656 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of AbbVie by 15.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 11,600 shares of the company’s stock valued at $1,729,000 after acquiring an additional 1,540 shares during the last quarter. Paragon Private Wealth Management LLC raised its position in shares of AbbVie by 2.4% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 9,535 shares of the company’s stock valued at $1,421,000 after acquiring an additional 226 shares during the last quarter. Finally, PGIM Custom Harvest LLC raised its position in shares of AbbVie by 4.5% during the 3rd quarter. PGIM Custom Harvest LLC now owns 3,311 shares of the company’s stock valued at $494,000 after acquiring an additional 142 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of AbbVie stock opened at $172.75 on Tuesday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market capitalization of $305.05 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.18 and a beta of 0.60. The company’s 50 day moving average price is $164.11 and its two-hundred day moving average price is $167.11.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

A number of analysts recently commented on ABBV shares. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, 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 note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

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.