Harvest Portfolios Group Inc. Has $55.10 Million Stock Holdings in AbbVie Inc. $ABBV

Harvest Portfolios Group Inc. boosted its position in AbbVie Inc. (NYSE:ABBV) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 296,828 shares of the company’s stock after acquiring an additional 29,570 shares during the quarter. AbbVie accounts for 1.3% of Harvest Portfolios Group Inc.’s holdings, making the stock its 28th largest holding. Harvest Portfolios Group Inc.’s holdings in AbbVie were worth $55,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC lifted its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $28,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. grew its holdings in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $219.13 on Friday. The stock’s 50 day moving average is $223.06 and its 200 day moving average is $201.96. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The firm has a market cap of $387.11 billion, a P/E ratio of 104.35, a P/E/G ratio of 1.42 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. The firm had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.2%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s payout ratio is currently 524.24%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. DZ Bank cut AbbVie from a “buy” rating to a “hold” rating and set a $237.00 target price for the company. in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.05.

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.