Bedel Financial Consulting Inc. increased its position in shares of AbbVie Inc (NYSE:ABBV) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,165 shares of the company’s stock after acquiring an additional 977 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in AbbVie were worth $622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Orser Capital Management LLC increased its holdings in AbbVie by 3,735.5% in the fourth quarter. Orser Capital Management LLC now owns 7,671 shares of the company’s stock valued at $679,000 after purchasing an additional 7,471 shares during the last quarter. Savior LLC bought a new stake in AbbVie in the fourth quarter valued at about $53,000. Cordasco Financial Network increased its holdings in AbbVie by 91.8% in the fourth quarter. Cordasco Financial Network now owns 2,513 shares of the company’s stock valued at $223,000 after purchasing an additional 1,203 shares during the last quarter. Pathway Financial Advisors LLC increased its holdings in AbbVie by 16.2% in the fourth quarter. Pathway Financial Advisors LLC now owns 4,306 shares of the company’s stock valued at $379,000 after purchasing an additional 600 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in AbbVie by 0.8% in the fourth quarter. Leavell Investment Management Inc. now owns 68,657 shares of the company’s stock valued at $6,079,000 after purchasing an additional 575 shares during the last quarter. 72.17% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Brian L. Durkin purchased 2,200 shares of AbbVie stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $68.18 per share, with a total value of $149,996.00. Following the completion of the transaction, the vice president now owns 15,294 shares of the company’s stock, valued at approximately $1,042,744.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Rapp purchased 2,875 shares of AbbVie stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average cost of $91.75 per share, with a total value of $263,781.25. Insiders have purchased 8,825 shares of company stock valued at $671,852 over the last three months. Insiders own 0.09% of the company’s stock.

Shares of NYSE:ABBV traded down $0.81 during mid-day trading on Friday, reaching $92.21. 2,163,861 shares of the stock were exchanged, compared to its average volume of 13,309,068. The company has a market cap of $134.66 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.93 and a beta of 0.82. AbbVie Inc has a one year low of $62.55 and a one year high of $97.86. The stock’s 50 day simple moving average is $82.74 and its 200-day simple moving average is $85.37.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.25 by $0.17. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. AbbVie’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. As a group, research analysts forecast that AbbVie Inc will post 10.7 EPS for the current fiscal year.

ABBV has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on AbbVie from $106.00 to $96.00 and set a “buy” rating for the company in a report on Monday, April 13th. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 23rd. Mizuho restated a “buy” rating and issued a $100.00 price target on shares of AbbVie in a report on Friday, May 1st. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a report on Thursday, May 14th. Finally, Piper Sandler increased their price target on AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $98.23.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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