Harvest Volatility Management LLC Makes New $236,000 Investment in AbbVie Inc. (NYSE:ABBV)

Harvest Volatility Management LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,458 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at about $2,433,269,000. Vanguard Group Inc. raised its holdings in shares of AbbVie by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after purchasing an additional 4,206,711 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the period. State Street Corp raised its holdings in shares of AbbVie by 3.4% in the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after purchasing an additional 2,597,076 shares during the period. Finally, Capital International Investors raised its holdings in shares of AbbVie by 19.7% in the 4th quarter. Capital International Investors now owns 11,615,068 shares of the company’s stock valued at $1,572,680,000 after purchasing an additional 1,913,451 shares during the period. 68.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Argus decreased their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Barclays decreased their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Piper Sandler decreased their price target on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Finally, SVB Leerink assumed coverage on shares of AbbVie in a research note on Monday, May 23rd. They issued an “underperform” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.

AbbVie Stock Performance

Shares of AbbVie stock opened at $142.24 on Tuesday. The company has a 50 day moving average of $143.96 and a 200-day moving average of $150.05. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The company has a market cap of $251.49 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 3.97 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm posted $3.11 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, October 13th. AbbVie’s payout ratio is 79.89%.

AbbVie Company Profile

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVGet Rating).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.