AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 191,414 shares of the company's stock after selling 2,388 shares during the period. AbbVie comprises approximately 3.7% of Marble Harbor Investment Counsel LLC's portfolio, making the stock its 6th largest position. Marble Harbor Investment Counsel LLC's holdings in AbbVie were worth $34,014,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Swedbank AB grew its stake in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after acquiring an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC grew its stake in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock worth $397,000 after acquiring an additional 339 shares in the last quarter. Walkner Condon Financial Advisors LLC lifted its position in shares of AbbVie by 12.8% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,910 shares of the company's stock worth $377,000 after purchasing an additional 216 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. Finally, Consolidated Planning Corp lifted its position in shares of AbbVie by 12.8% during the 3rd quarter. Consolidated Planning Corp now owns 2,088 shares of the company's stock worth $412,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective for the company. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, Piper Sandler boosted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.45.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of AbbVie stock traded up $3.80 on Friday, reaching $214.55. 6,800,068 shares of the stock were exchanged, compared to its average volume of 6,084,956. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business has a fifty day moving average price of $187.63 and a two-hundred day moving average price of $187.53. The firm has a market capitalization of $378.75 billion, a PE ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie's payout ratio is currently 273.33%.

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.