Harbour Trust & Investment Management Co Sells 1,483 Shares of AbbVie Inc. (NYSE:ABBV)

Harbour Trust & Investment Management Co trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,913 shares of the company's stock after selling 1,483 shares during the period. Harbour Trust & Investment Management Co's holdings in AbbVie were worth $3,544,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. LaFleur & Godfrey LLC raised its position in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC increased its position in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after buying an additional 3,064 shares in the last quarter. Fisher Asset Management LLC increased its position in AbbVie by 11.1% in the 4th quarter. Fisher Asset Management LLC now owns 43,233 shares of the company's stock valued at $7,683,000 after buying an additional 4,319 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in AbbVie by 8.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 270,178 shares of the company's stock valued at $48,011,000 after buying an additional 21,250 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ABBV shares. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

ABBV stock traded down $1.25 during midday trading on Thursday, reaching $189.50. 3,706,217 shares of the company's stock traded hands, compared to its average volume of 6,248,905. The company has a 50-day moving average price of $187.12 and a two-hundred day moving average price of $188.23. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52 week low of $163.63 and a 52 week high of $218.66. The firm has a market capitalization of $334.73 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. AbbVie's payout ratio is currently 279.15%.

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.