Steele Capital Management Inc. Purchases 127 Shares of AbbVie Inc. (NYSE:ABBV)

Steele Capital Management Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 0.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,765 shares of the company’s stock after buying an additional 127 shares during the period. Steele Capital Management Inc.’s holdings in AbbVie were worth $2,884,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its holdings in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after buying an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its holdings in AbbVie by 1.7% in the 4th 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 during the period. Peninsula Wealth LLC boosted its holdings in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after buying an additional 54 shares during the period. Physicians Financial Services Inc. boosted its holdings in AbbVie by 0.5% in the 4th 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 during the period. Finally, Connecticut Wealth Management LLC boosted its holdings in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $190.67 on Friday. 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 Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The firm has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company’s 50-day moving average is $184.21 and its 200 day moving average is $187.49.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company posted $2.31 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

ABBV has been the subject of several research reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Finally, Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday. Eight investment 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 company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated 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 in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently 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.