Parr Mcknight Wealth Management Group LLC Invests $5.18 Million in AbbVie Inc. (NYSE:ABBV)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 29,142 shares of the company's stock, valued at approximately $5,178,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crestline Management LP increased its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares during the last quarter. AXA S.A. raised its holdings in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group raised its holdings in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at $2,338,401.36. The trade was a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,693 shares of company stock valued at $22,282,985 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Raymond James restated an "outperform" rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Stock Up 0.3%

Shares of ABBV opened at $182.32 on Friday. The firm has a fifty day moving average price of $189.00 and a 200-day moving average price of $186.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $322.05 billion, a P/E ratio of 75.97, a P/E/G 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 announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $2.31 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.

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