Harbour Investments Inc. Purchases 146,611 Shares of AbbVie Inc. $ABBV

Harbour Investments Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 576.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,035 shares of the company’s stock after acquiring an additional 146,611 shares during the period. AbbVie accounts for 0.8% of Harbour Investments Inc.’s portfolio, making the stock its 19th largest holding. Harbour Investments Inc.’s holdings in AbbVie were worth $39,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC raised its stake in shares of AbbVie by 3.1% in the fourth quarter. Global Assets Advisory LLC now owns 7,084 shares of the company’s stock valued at $1,619,000 after acquiring an additional 215 shares during the last quarter. Allstate Corp raised its stake in shares of AbbVie by 109.5% in the fourth quarter. Allstate Corp now owns 134,485 shares of the company’s stock valued at $30,728,000 after acquiring an additional 70,284 shares during the last quarter. MSH Capital Advisors LLC raised its stake in shares of AbbVie by 104.3% in the fourth quarter. MSH Capital Advisors LLC now owns 17,503 shares of the company’s stock valued at $3,999,000 after acquiring an additional 8,934 shares during the last quarter. Summitry LLC raised its stake in shares of AbbVie by 2.3% in the fourth quarter. Summitry LLC now owns 4,206 shares of the company’s stock valued at $961,000 after acquiring an additional 96 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in AbbVie by 127.8% in the 4th quarter. Fisher Asset Management LLC now owns 628,338 shares of the company’s stock worth $143,569,000 after purchasing an additional 352,487 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $216.02 on Tuesday. The firm has a fifty day moving average of $208.53 and a two-hundred day moving average of $219.73. The stock has a market capitalization of $381.65 billion, a price-to-earnings ratio of 106.41, a PEG ratio of 0.74 and a beta of 0.32. AbbVie Inc. has a 52 week low of $181.71 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. As a group, research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. This represents a 36.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $249.00 price objective on shares of AbbVie in a report on Friday, May 1st. Citigroup reduced their price objective on AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Barclays assumed coverage on AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $223.00 price objective on shares of AbbVie in a report on Wednesday, January 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.