AbbVie Inc. (NYSE:ABBV) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its stake in AbbVie Inc. (NYSE:ABBV) by 64.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,075 shares of the company’s stock after selling 14,936 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AbbVie were worth $1,436,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vinva Investment Management Ltd lifted its position in AbbVie by 1.7% in the fourth quarter. Vinva Investment Management Ltd now owns 92,133 shares of the company’s stock valued at $16,234,000 after purchasing an additional 1,498 shares during the period. Bestgate Wealth Advisors LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $322,000. Stokes Family Office LLC grew its position in shares of AbbVie by 12.7% in the fourth quarter. Stokes Family Office LLC now owns 27,092 shares of the company’s stock valued at $4,814,000 after purchasing an additional 3,057 shares during the last quarter. North Forty Two & Co. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $462,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $172,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,639 shares of company stock valued at $11,067,025. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.8 %

Shares of AbbVie stock opened at $212.21 on Thursday. The company has a fifty day moving average price of $193.14 and a 200 day moving average price of $188.48. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The stock has a market cap of $374.62 billion, a price-to-earnings ratio of 88.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.09%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABBV. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

About AbbVie

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.