GPS Wealth Strategies Group LLC Sells 140 Shares of AbbVie Inc. (NYSE:ABBV)

GPS Wealth Strategies Group LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,541 shares of the company’s stock after selling 140 shares during the period. GPS Wealth Strategies Group LLC’s holdings in AbbVie were worth $2,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Simon Quick Advisors LLC raised its stake in AbbVie by 14.1% during the 1st quarter. Simon Quick Advisors LLC now owns 21,705 shares of the company’s stock worth $4,548,000 after buying an additional 2,688 shares during the period. Capital Advisors Ltd. LLC grew its position in AbbVie by 9.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 4,344 shares of the company’s stock valued at $910,000 after purchasing an additional 384 shares during the period. Zhang Financial LLC increased its stake in AbbVie by 27.9% during the 1st quarter. Zhang Financial LLC now owns 24,214 shares of the company’s stock valued at $5,073,000 after purchasing an additional 5,284 shares in the last quarter. Chris Bulman Inc raised its holdings in shares of AbbVie by 5.6% in the 1st quarter. Chris Bulman Inc now owns 2,623 shares of the company’s stock worth $550,000 after acquiring an additional 140 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC lifted its holdings in shares of AbbVie by 1.1% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 8,451 shares of the company’s stock valued at $1,771,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report 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 report on Monday. Wells Fargo & Company increased their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock opened at $191.27 on Thursday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm’s 50-day moving average is $183.78 and its 200 day moving average is $187.32. The stock has a market cap of $337.86 billion, a price-to-earnings ratio of 79.70, a PEG ratio of 1.62 and a beta of 0.50. 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 (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the company posted $2.31 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.