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

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.

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

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.