AbbVie Inc. (NYSE:ABBV) Shares Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 33,052 shares of the company’s stock after acquiring an additional 173 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in AbbVie were worth $5,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Alethea Capital Management LLC purchased a new stake in shares of AbbVie during the second quarter worth about $488,000. Goodman Advisory Group LLC boosted its holdings in AbbVie by 3,909.8% in the 2nd quarter. Goodman Advisory Group LLC now owns 13,914 shares of the company’s stock valued at $2,387,000 after purchasing an additional 13,567 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of AbbVie by 4.5% in the 2nd quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock worth $4,421,000 after acquiring an additional 1,102 shares during the last quarter. Annandale Capital LLC lifted its holdings in shares of AbbVie by 686.6% in the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock worth $4,992,000 after acquiring an additional 25,406 shares during the last quarter. Finally, Copperwynd Financial LLC lifted its holdings in shares of AbbVie by 29.5% in the 2nd quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock worth $289,000 after acquiring an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABBV. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Morgan Stanley dropped their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.4 %

Shares of ABBV stock opened at $170.05 on Friday. The stock has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm’s 50 day moving average price is $175.84 and its two-hundred day moving average price is $184.66.

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

AbbVie Increases Dividend

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

AbbVie 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.