Marble Harbor Investment Counsel LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,472 shares of the company's stock after selling 3,942 shares during the quarter. AbbVie accounts for approximately 4.4% of Marble Harbor Investment Counsel LLC's investment portfolio, making the stock its 4th biggest position. Marble Harbor Investment Counsel LLC's holdings in AbbVie were worth $39,279,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Brighton Jones LLC increased its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. PAX Financial Group LLC grew its holdings in AbbVie by 13.3% during the fourth quarter. PAX Financial Group LLC now owns 2,139 shares of the company's stock worth $380,000 after acquiring an additional 251 shares during the period. Pioneer Trust Bank N A OR grew its holdings in AbbVie by 16.1% during the fourth quarter. Pioneer Trust Bank N A OR now owns 4,730 shares of the company's stock worth $841,000 after acquiring an additional 655 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in AbbVie during the fourth quarter worth $97,148,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Guggenheim upped their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Citigroup boosted their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $212.81.
Read Our Latest Report on ABBV
AbbVie Stock Up 3.3%
Shares of NYSE:ABBV opened at $195.17 on Friday. The company has a market capitalization of $344.75 billion, a P/E ratio of 92.94, a P/E/G ratio of 1.29 and a beta of 0.50. The stock's fifty day simple moving average is $188.33 and its 200-day simple moving average is $190.30. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.
AbbVie Profile
(
Free Report)
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.
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