Harvey Investment Co. LLC Has $14.06 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Harvey Investment Co. LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,136 shares of the company’s stock after selling 980 shares during the period. AbbVie comprises 1.6% of Harvey Investment Co. LLC’s portfolio, making the stock its 23rd largest holding. Harvey Investment Co. LLC’s holdings in AbbVie were worth $14,062,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter worth approximately $35,000. Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the third quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $192.95 on Friday. The firm has a market capitalization of $340.96 billion, a PE ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The business’s 50 day moving average is $177.38 and its 200-day moving average is $185.48.

AbbVie (NYSE:ABBV) last posted 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 257.91% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ABBV shares. Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Company 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.