Capstone Triton Financial Group LLC Has $1.34 Million Position in AbbVie Inc. (NYSE:ABBV)

Posted by on Jun 20th, 2023

Capstone Triton Financial Group LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 6.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,378 shares of the company’s stock after purchasing an additional 489 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in AbbVie were worth $1,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Oliver Lagore Vanvalin Investment Group grew its position in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares during the period. Align Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at approximately $27,000. Red Tortoise LLC bought a new stake in AbbVie in the 4th quarter valued at approximately $27,000. Boulder Wealth Advisors LLC bought a new stake in AbbVie in the 4th quarter valued at approximately $31,000. Finally, My Personal CFO LLC bought a new stake in AbbVie in the 4th quarter valued at approximately $32,000. 68.27% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $138.64 on Tuesday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82. The stock’s fifty day moving average price is $146.96 and its two-hundred day moving average price is $152.72. AbbVie Inc. has a one year low of $131.10 and a one year high of $168.11. The firm has a market cap of $244.60 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 2.53 and a beta of 0.58.

AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The firm had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period in the prior year, the firm posted $3.16 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 3,520 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Perry C. Siatis sold 3,520 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Elaine K. Sorg sold 6,130 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now directly owns 35,330 shares in the company, valued at $5,829,450. The disclosure for this sale can be found here. Insiders have sold a total of 32,151 shares of company stock valued at $5,187,783 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company cut their target price on AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Barclays boosted their target price on AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Morgan Stanley upped their price objective on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Finally, Wolfe Research cut AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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