AbbVie Inc. (NYSE:ABBV) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,465 shares of the company's stock after purchasing an additional 3,336 shares during the period. AbbVie accounts for about 0.8% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 29th largest position. NorthCrest Asset Manangement LLC's holdings in AbbVie were worth $27,754,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EnRich Financial Partners LLC boosted its position in shares of AbbVie by 196.4% in the fourth 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 last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH boosted its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.9%

Shares of NYSE:ABBV traded down $1.75 during midday trading on Friday, reaching $190.67. The company had a trading volume of 4,965,464 shares, compared to its average volume of 6,243,963. 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's fifty day moving average price is $184.21 and its 200-day moving average price is $187.49. The stock has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. 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. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their price target 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. Finally, Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

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.