NorthCrest Asset Manangement LLC Grows Holdings in AbbVie Inc. (NYSE:ABBV)

NorthCrest Asset Manangement LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,465 shares of the company's stock after acquiring an additional 3,336 shares during the quarter. AbbVie comprises 0.8% of NorthCrest Asset Manangement LLC's holdings, making the stock its 29th largest position. NorthCrest Asset Manangement LLC's holdings in AbbVie were worth $27,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.9%

ABBV traded down $1.75 during midday trading on Friday, hitting $190.67. The company had a trading volume of 4,965,464 shares, compared to its average volume of 6,243,959. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $336.80 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. The stock's 50 day moving average price is $183.90 and its 200 day moving average price is $187.43.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABBV. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim raised their target price 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 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 currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, 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 SEC, which is available at this link. Insiders own 0.25% of the company's stock.

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.