Harvest Investment Services LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Harvest Investment Services LLC acquired a new position in AbbVie Inc. (NYSE:ABBVFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,302 shares of the company’s stock, valued at approximately $1,287,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie in the fourth quarter worth about $44,000. Bourgeon Capital Management LLC grew its position in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the period. Naples Money Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $53,000. Core Wealth Advisors Inc. grew its position in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $57,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Up 3.1 %

NYSE ABBV traded up $4.88 during trading on Friday, hitting $161.19. The stock had a trading volume of 15,663,814 shares, compared to its average volume of 5,584,735. The company has a market capitalization of $284.64 billion, a PE ratio of 47.83, a P/E/G ratio of 1.98 and a beta of 0.61. The company’s 50-day moving average price is $165.83 and its two-hundred day moving average price is $163.65. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $176.14.

View Our Latest Stock Report on AbbVie

AbbVie Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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