2,214 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Ball & Co Wealth Management Inc.

Ball & Co Wealth Management Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,214 shares of the company's stock, valued at approximately $393,000. AbbVie accounts for about 0.3% of Ball & Co Wealth Management Inc.'s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors have also recently bought and sold shares of ABBV. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in shares of AbbVie during the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at $32,000. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In related 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 transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ABBV. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Citigroup reaffirmed a "neutral" rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Stock Down 1.5%

Shares of NYSE:ABBV traded down $2.74 during midday trading on Wednesday, hitting $182.98. 4,783,938 shares of the company's stock were exchanged, compared to its average volume of 6,246,369. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a 50 day moving average price of $187.30 and a 200-day moving average price of $186.11. The company has a market cap of $323.22 billion, a PE ratio of 76.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

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

AbbVie 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.