Capital Asset Advisory Services LLC Has $4.07 Million Position in AbbVie Inc. (NYSE:ABBV)

Capital Asset Advisory Services LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,828 shares of the company's stock after purchasing an additional 1,380 shares during the quarter. Capital Asset Advisory Services LLC's holdings in AbbVie were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Merit Financial Group LLC grew its holdings in AbbVie by 19.9% in the 1st quarter. Merit Financial Group LLC now owns 59,033 shares of the company's stock worth $12,369,000 after buying an additional 9,807 shares in the last quarter. Marquette Asset Management LLC grew its holdings in AbbVie by 122.0% in the 1st quarter. Marquette Asset Management LLC now owns 444 shares of the company's stock worth $93,000 after buying an additional 244 shares in the last quarter. Lbmc Investment Advisors LLC grew its holdings in AbbVie by 6.1% in the 1st quarter. Lbmc Investment Advisors LLC now owns 3,072 shares of the company's stock worth $644,000 after buying an additional 176 shares in the last quarter. Milestone Asset Management LLC grew its holdings in AbbVie by 7.8% in the 1st quarter. Milestone Asset Management LLC now owns 8,273 shares of the company's stock worth $1,734,000 after buying an additional 598 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc grew its holdings in AbbVie by 1.2% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,200 shares of the company's stock worth $1,718,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.0%

Shares of ABBV traded up $0.05 during mid-day trading on Wednesday, reaching $187.30. The company's stock had a trading volume of 4,379,502 shares, compared to its average volume of 6,232,265. The business has a fifty day moving average of $185.37 and a 200 day moving average of $186.65. The company has a market cap of $330.85 billion, a price-to-earnings ratio of 78.04, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1 year low of $159.77 and a 1 year high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the company earned $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Finally, Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction 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 represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

About AbbVie

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.