Hara Capital LLC Sells 113 Shares of AbbVie Inc. (NYSE:ABBV)

Hara Capital LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 3.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,183 shares of the company’s stock after selling 113 shares during the period. Hara Capital LLC’s holdings in AbbVie were worth $629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter valued at $27,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth $39,000. Finally, Burkett Financial Services LLC lifted its stake in shares of AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded down $1.40 during mid-day trading on Thursday, hitting $199.80. The company’s stock had a trading volume of 539,195 shares, compared to its average volume of 5,306,517. The business’s fifty day moving average is $194.41 and its two-hundred day moving average is $180.25. The stock has a market cap of $352.91 billion, a price-to-earnings ratio of 69.86, a PEG ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

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 the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.28%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Bank of America increased their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets upped their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

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.