Constitution Capital LLC Buys Shares of 1,000 AbbVie Inc. (NYSE:ABBV)

Constitution Capital LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,000 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also made changes to their positions in the stock. Blue Bell Private Wealth Management LLC boosted its stake in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after acquiring an additional 54 shares during the last quarter. Physicians Financial Services Inc. lifted its position in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC boosted its stake in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Morgan Stanley increased their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.19.

AbbVie Trading Up 1.3%

NYSE ABBV opened at $189.89 on Friday. The stock has a market cap of $335.42 billion, a P/E ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. The company’s fifty day simple moving average is $184.24 and its 200-day simple moving average is $186.96. 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 52 week low of $163.52 and a 52 week high of $218.66.

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

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

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.