Good Steward Wealth Advisors LLC Invests $856,000 in AbbVie Inc. (NYSE:ABBV)

Good Steward Wealth Advisors LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,086 shares of the company's stock, valued at approximately $856,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crestline Management LP boosted its holdings in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP boosted its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares during the last quarter. AXA S.A. grew its holdings in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares during the period. Finally, Keystone Financial Group grew its holdings in AbbVie by 0.9% in the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's 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 approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.1%

ABBV stock opened at $185.26 on Friday. The firm has a market cap of $327.24 billion, a PE ratio of 78.83, a P/E/G ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $184.98 and a 200 day simple moving average of $187.60.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABBV shares. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup boosted their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.

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.

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