Good Steward Wealth Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Good Steward Wealth Advisors LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, HoldingsChannel reports. The firm purchased 4,086 shares of the company’s stock, valued at approximately $856,000.

A number of other large investors have also added to or reduced their stakes in the business. Tallon Kerry Patrick bought a new stake in shares of AbbVie in the 4th quarter valued at about $309,000. Capital & Planning LLC grew its holdings in AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after purchasing an additional 105 shares during the period. LaFleur & Godfrey LLC increased its stake in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1%

Shares of ABBV stock opened at $185.26 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The firm has a market cap of $327.24 billion, a P/E ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The business has a 50-day moving average price of $184.98 and a two-hundred day moving average price of $187.60. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the company earned $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.29.

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.