Park National Corp OH Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Park National Corp OH lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,173 shares of the company's stock after selling 9,524 shares during the quarter. Park National Corp OH's holdings in AbbVie were worth $26,645,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the fourth quarter worth about $29,000. EnRich Financial Partners LLC grew its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $210.95.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 0.0%

NYSE ABBV traded down $0.09 during trading on Friday, hitting $185.53. 11,606,785 shares of the company's stock traded hands, compared to its average volume of 6,281,110. The stock has a fifty day moving average of $185.97 and a two-hundred day moving average of $186.26. 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 12-month low of $156.20 and a 12-month high of $218.66. The firm has a market cap of $327.72 billion, a P/E ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current 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.