GoalVest Advisory LLC Acquires 1,262 Shares of AbbVie Inc. (NYSE:ABBV)

GoalVest Advisory LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,668 shares of the company’s stock after buying an additional 1,262 shares during the quarter. AbbVie makes up about 0.8% of GoalVest Advisory LLC’s investment portfolio, making the stock its 19th largest holding. GoalVest Advisory LLC’s holdings in AbbVie were worth $3,073,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC lifted its holdings in 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 purchasing an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its holdings in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its holdings in shares of AbbVie by 0.5% in 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 in the last quarter. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after buying an additional 57 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. 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. Citigroup reaffirmed a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Stock Up 1.3%

ABBV stock opened at $185.40 on Friday. The firm has a market cap of $327.49 billion, a price-to-earnings ratio of 77.25, a PEG ratio of 1.62 and a beta of 0.56. The firm has a fifty day moving average price of $186.28 and a two-hundred day moving average price of $186.16. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last announced 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. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Research analysts predict 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 AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.08% of the company’s stock.

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.