Edge Financial Advisors LLC Has $682,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Edge Financial Advisors LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,256 shares of the company’s stock after purchasing an additional 311 shares during the period. Edge Financial Advisors LLC’s holdings in AbbVie were worth $682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick acquired a new position in shares of AbbVie in the 4th quarter valued at $309,000. Capital & Planning LLC raised its stake in shares of AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after buying an additional 105 shares in the last quarter. LaFleur & Godfrey LLC raised its stake in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Bank of America upped their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

Shares of AbbVie stock opened at $190.91 on Tuesday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock has a market capitalization of $337.22 billion, a price-to-earnings ratio of 79.55, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a fifty day moving average of $184.53 and a 200-day moving average of $187.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

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

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.