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

Ball & Co Wealth Management Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,214 shares of the company’s stock, valued at approximately $393,000. AbbVie makes up about 0.3% of Ball & Co Wealth Management Inc.’s holdings, making the stock its 14th biggest position.

A number of other institutional investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC grew its stake in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its holdings in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC boosted its holdings in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after purchasing an additional 54 shares during the period. Physicians Financial Services Inc. boosted its holdings in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC boosted its holdings in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after purchasing an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.5%

AbbVie stock opened at $183.51 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. 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 company has a market capitalization of $324.15 billion, a P/E ratio of 76.46, a PEG ratio of 1.62 and a beta of 0.56. The stock has a 50-day simple moving average of $188.39 and a 200-day simple moving average of $186.43.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. 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%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.31 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 in the company, valued at approximately $8,985,223.60. The trade was a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,693 shares of company stock valued at $22,282,985. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABBV. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday. Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Eight research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

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.