Ellenbecker Investment Group Has $1.11 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Ellenbecker Investment Group increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,283 shares of the company’s stock after buying an additional 627 shares during the quarter. Ellenbecker Investment Group’s holdings in AbbVie were worth $1,107,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Steel Grove Capital Advisors LLC lifted its stake in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC lifted its stake in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after purchasing an additional 54 shares during the period. Physicians Financial Services Inc. lifted its stake 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 purchasing an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC lifted its stake in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after purchasing an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Price Performance

ABBV opened at $189.31 on Wednesday. The company has a fifty day moving average price of $183.68 and a two-hundred 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. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The firm has a market capitalization of $334.40 billion, a PE ratio of 78.88, a P/E/G ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released 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 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.