North Star Asset Management Inc. Has $28.53 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

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.

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

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.