AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Park National Corp OH

Park National Corp OH cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,173 shares of the company’s stock after selling 9,524 shares during the period. Park National Corp OH’s holdings in AbbVie were worth $26,645,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABBV. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at $29,000. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Guggenheim increased their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was 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. This trade represents a 52.50% decrease in their position. The sale 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.

AbbVie Price Performance

Shares of ABBV opened at $182.98 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. 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 firm has a market capitalization 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. The company’s fifty day moving average price is $186.76 and its 200-day moving average price is $186.09.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS 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.