North Star Asset Management Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,564 shares of the company's stock after buying an additional 3,004 shares during the period. AbbVie comprises 1.3% of North Star Asset Management Inc.'s investment portfolio, making the stock its 21st largest position. North Star Asset Management Inc.'s holdings in AbbVie were worth $28,532,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tallon Kerry Patrick bought a new stake in AbbVie during the fourth quarter valued at $309,000. Capital & Planning LLC lifted its holdings in AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after purchasing an additional 105 shares during the period. LaFleur & Godfrey LLC lifted its holdings in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after purchasing an additional 3,108 shares during the period. Phillips Wealth Planners LLC raised its position in AbbVie by 2.7% in the fourth quarter. Phillips Wealth Planners LLC now owns 7,064 shares of the company's stock worth $1,237,000 after acquiring an additional 188 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in AbbVie by 2.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 956,556 shares of the company's stock valued at $169,980,000 after acquiring an additional 25,246 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,693 shares of company stock worth $22,282,985 in the last 90 days. Corporate insiders own 0.08% of the company's stock.
Analyst Upgrades and Downgrades
ABBV has been the topic of several recent analyst reports. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Raymond James restated an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Citigroup restated a "neutral" rating and issued a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Guggenheim increased their price objective on 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, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.
Check Out Our Latest Stock Analysis on AbbVie
AbbVie Trading Up 1.2%
AbbVie stock traded up $2.26 during mid-day trading on Tuesday, hitting $185.52. The stock had a trading volume of 5,720,849 shares, compared to its average volume of 6,252,208. The stock has a 50-day simple moving average of $187.82 and a two-hundred day simple moving average of $186.11. The stock has a market capitalization of $327.70 billion, a PE ratio of 77.30, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.
AbbVie (NYSE:ABBV - Get Free Report) last issued its 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 return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the business earned $2.31 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Company Profile
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Free Report)
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.
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