Capital Advisory Group Advisory Services LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Capital Advisory Group Advisory Services LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 8,451 shares of the company’s stock after purchasing an additional 89 shares during the period. Capital Advisory Group Advisory Services LLC’s holdings in AbbVie were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Crestline Management LP increased its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP lifted its position in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares during the period. AXA S.A. raised its holdings 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 purchasing an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group boosted its position in AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock worth $3,190,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABBV. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Citigroup reissued a “neutral” rating and issued a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Finally, Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Eight 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 0.1%

ABBV opened at $189.31 on Wednesday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm has a 50 day moving average price of $183.68 and a 200 day moving average price of $187.29. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $334.40 billion, a PE ratio of 78.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.