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

Harvest Investment Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,830 shares of the company’s stock, valued at approximately $2,703,000. AbbVie makes up about 1.5% of Harvest Investment Advisors LLC’s holdings, making the stock its 11th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. boosted its stake in AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock worth $93,024,000 after purchasing an additional 81,625 shares during the period. Channing Capital Management LLC boosted its stake in shares of AbbVie by 10.5% during the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock valued at $12,885,000 after buying an additional 5,302 shares during the period. Procyon Advisors LLC boosted its stake in shares of AbbVie by 19.9% during the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock valued at $7,484,000 after buying an additional 5,427 shares during the period. Woodley Farra Manion Portfolio Management Inc. boosted its stake in shares of AbbVie by 358.1% during the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,746 shares of the company’s stock valued at $3,414,000 after buying an additional 11,527 shares during the period. Finally, Waycross Partners LLC boosted its stake in shares of AbbVie by 2.9% during the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock valued at $41,694,000 after buying an additional 5,063 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABBV shares. Barclays started coverage on shares of AbbVie in a research note on Thursday, February 19th. They set an “overweight” rating and a $275.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $240.00 target price on shares of AbbVie in a research note on Thursday, April 30th. Canaccord Genuity Group lifted their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three equities research 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 company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Trading Up 0.5%

AbbVie stock opened at $222.62 on Wednesday. The company has a market capitalization of $393.33 billion, a P/E ratio of 109.67, a P/E/G ratio of 0.68 and a beta of 0.32. The firm’s fifty day simple moving average is $211.58 and its 200-day simple moving average is $218.89. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81.

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