TruNorth Capital Management LLC Has $616,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

TruNorth Capital Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 112.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,938 shares of the company's stock after buying an additional 1,552 shares during the period. TruNorth Capital Management LLC's holdings in AbbVie were worth $616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. High Note Wealth LLC boosted its holdings in AbbVie by 0.8% in the 1st quarter. High Note Wealth LLC now owns 20,223 shares of the company's stock valued at $4,237,000 after purchasing an additional 158 shares during the period. Platform Technology Partners boosted its holdings in AbbVie by 9.3% in the 1st quarter. Platform Technology Partners now owns 10,059 shares of the company's stock valued at $2,108,000 after purchasing an additional 854 shares during the period. Arizona State Retirement System boosted its holdings in AbbVie by 1.1% in the 1st quarter. Arizona State Retirement System now owns 518,607 shares of the company's stock valued at $108,659,000 after purchasing an additional 5,599 shares during the period. Realta Investment Advisors boosted its holdings in AbbVie by 3.3% in the 1st quarter. Realta Investment Advisors now owns 5,634 shares of the company's stock valued at $1,181,000 after purchasing an additional 180 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of AbbVie by 14.8% during the 1st quarter. Kathmere Capital Management LLC now owns 3,324 shares of the company's stock worth $696,000 after acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 1.4%

Shares of NYSE:ABBV traded down $2.68 during mid-day trading on Friday, reaching $192.32. 4,990,162 shares of the company's stock were exchanged, compared to its average volume of 6,311,659. The firm has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.28 and a beta of 0.48. The business's fifty day moving average price is $187.01 and its 200-day moving average price is $189.05. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a twelve month low of $163.81 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 earnings per share. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.41%. AbbVie's payout ratio is 279.15%.

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.