Park National Corp OH Has $24.48 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Park National Corp OH reduced its stake in AbbVie Inc. (NYSE:ABBV) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,426 shares of the company’s stock after selling 10,771 shares during the period. Park National Corp OH’s holdings in AbbVie were worth $24,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Vanguard Group Inc. increased its position in AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares during the period. Capital International Investors increased its position in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Morgan Stanley raised its holdings in AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $171.35 on Wednesday. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market capitalization of $302.58 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.16 and a beta of 0.60. The company’s fifty day moving average price is $163.58 and its 200-day moving average price is $166.38.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Finally, Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.