Northstar Financial Companies Inc. Invests $1.22 Million in AbbVie Inc. (NYSE:ABBV)

Northstar Financial Companies Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,860 shares of the company's stock, valued at approximately $1,219,000. AbbVie accounts for approximately 1.2% of Northstar Financial Companies Inc.'s portfolio, making the stock its 16th largest position.

A number of other large investors also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC raised its holdings in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC raised its holdings in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its holdings in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC raised its holdings in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE ABBV traded down $0.09 during trading hours on Friday, hitting $185.53. 11,606,785 shares of the company's stock traded hands, compared to its average volume of 6,281,110. The business's fifty day moving average price is $185.97 and its two-hundred day moving average price is $186.26. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $327.72 billion, a P/E ratio of 77.30, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $156.20 and a 52 week 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 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup reaffirmed a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Guggenheim lifted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $210.95.

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.