Free Trial

Ball & Co Wealth Management Inc. Invests $393,000 in AbbVie Inc. (NYSE:ABBV)

AbbVie logo with Medical background

Ball & Co Wealth Management Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,214 shares of the company's stock, valued at approximately $393,000. AbbVie accounts for 0.3% of Ball & Co Wealth Management Inc.'s holdings, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the fourth quarter worth about $4,459,385,000. Raymond James Financial Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $1,190,951,000. FMR LLC grew its position in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after acquiring an additional 3,373,156 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV traded up $2.26 during trading hours on Tuesday, reaching $185.52. The stock had a trading volume of 5,720,849 shares, compared to its average volume of 6,252,208. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market capitalization of $327.70 billion, a PE ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a 50 day moving average price of $187.82 and a two-hundred day moving average price of $186.11.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results 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 firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the firm posted $2.31 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Read Our Latest Analysis on AbbVie

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on 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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,693 shares of company stock valued at $22,282,985 in the last ninety days. Insiders own 0.08% of the company's stock.

AbbVie Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Should You Invest $1,000 in AbbVie Right Now?

Before you consider AbbVie, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.

While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

A Beginner's Guide to Investing in Cannabis Cover

Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings Preview: HUGE Stock Move Ahead
These 5 Small Stocks Could Deliver Huge Returns
ACT FAST! Congress Is POURING Into This Stock

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines