AbbVie Inc. (NYSE:ABBV) Shares Acquired by Capital Advisory Group Advisory Services LLC

Capital Advisory Group Advisory Services LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,451 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Capital Advisory Group Advisory Services LLC’s holdings in AbbVie were worth $1,771,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABBV. Crestline Management LP boosted its holdings in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its position in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. boosted its stake in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group grew its holdings in AbbVie by 0.9% in the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after buying an additional 161 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. Citigroup reiterated a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.1%

AbbVie stock opened at $189.31 on Wednesday. The firm has a market capitalization of $334.40 billion, a P/E ratio of 78.88, a P/E/G ratio of 1.62 and a beta of 0.50. 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 $163.52 and a twelve month high of $218.66. The stock’s fifty day simple moving average is $183.68 and its 200-day simple moving average is $187.29.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.