AbbVie Inc. (NYSE:ABBV) is Marble Harbor Investment Counsel LLC’s 4th Largest Position

Marble Harbor Investment Counsel LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,783 shares of the company’s stock after selling 788 shares during the quarter. AbbVie accounts for approximately 3.9% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 4th largest holding. Marble Harbor Investment Counsel LLC’s holdings in AbbVie were worth $33,238,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at $27,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the 1st quarter worth about $36,000. Finally, Quest Partners LLC grew its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.1 %

AbbVie stock opened at $194.21 on Monday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The stock has a market cap of $343.04 billion, a P/E ratio of 57.63, a PEG ratio of 2.66 and a beta of 0.64. The firm’s fifty day moving average price is $186.83 and its 200-day moving average price is $175.22.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.91 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. AbbVie’s dividend payout ratio is presently 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ABBV. Morgan Stanley lifted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Buy” and an average target price of $191.64.

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.