11,830 Shares in AbbVie Inc. $ABBV Purchased by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,830 shares of the company’s stock, valued at approximately $2,703,000. AbbVie accounts for 1.5% of Harvest Investment Advisors LLC’s portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new stake in AbbVie during the fourth quarter worth about $161,000. Captrust Financial Advisors increased its stake in shares of AbbVie by 0.9% in the fourth quarter. Captrust Financial Advisors now owns 1,487,949 shares of the company’s stock valued at $339,981,000 after purchasing an additional 13,113 shares during the period. Fred Alger Management LLC increased its stake in shares of AbbVie by 3.0% in the fourth quarter. Fred Alger Management LLC now owns 113,826 shares of the company’s stock valued at $26,008,000 after purchasing an additional 3,265 shares during the period. &PARTNERS increased its stake in shares of AbbVie by 24.8% in the fourth quarter. &PARTNERS now owns 382,480 shares of the company’s stock valued at $87,400,000 after purchasing an additional 76,006 shares during the period. Finally, Titan Wealth CI Ltd acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $8,148,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABBV shares. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Guggenheim restated a “buy” rating and issued a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. William Blair restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Piper Sandler raised their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Price Performance

NYSE ABBV opened at $222.62 on Wednesday. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The firm has a market capitalization of $393.33 billion, a PE ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. The company’s 50 day simple moving average is $211.58 and its 200 day simple moving average is $218.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the business earned $2.46 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

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.