Kaizen Financial Strategies Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Kaizen Financial Strategies grew its position in AbbVie Inc. (NYSE:ABBV) by 5.0% in the first quarter, Holdings Channel.com reports. The fund owned 4,200 shares of the company’s stock after buying an additional 200 shares during the period. Kaizen Financial Strategies’ holdings in AbbVie were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ABBV. Tallon Kerry Patrick bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $309,000. Capital & Planning LLC increased its holdings 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 acquiring an additional 105 shares during the last quarter. LaFleur & Godfrey LLC increased its holdings 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 acquiring an additional 3,108 shares during the last quarter. Brighton Jones LLC increased its holdings 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 acquiring an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings 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 acquiring an additional 3,064 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABBV shares. Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Raymond James restated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Trading Down 0.0%

Shares of ABBV stock opened at $185.53 on Friday. AbbVie Inc. has a 1 year low of $158.83 and a 1 year high of $218.66. 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 stock has a fifty day moving average of $185.97 and a two-hundred day moving average of $186.37. The firm has a market capitalization of $327.72 billion, a PE ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

AbbVie 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.