Harvest Fund Management Co. Ltd Has $229,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Harvest Fund Management Co. Ltd trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 72.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,480 shares of the company’s stock after selling 3,982 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AbbVie were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC grew its position in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in shares of AbbVie during the 3rd quarter valued at $45,000. Bourgeon Capital Management LLC increased its stake in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Naples Money Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $53,000. Finally, Core Wealth Advisors Inc. grew its stake in AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Barclays raised their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Up 0.4 %

Shares of ABBV stock opened at $168.50 on Thursday. The company has a market capitalization of $298.35 billion, a price-to-earnings ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a fifty day moving average of $175.13 and a 200-day moving average of $160.62. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 227.11%.

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.