AbbVie Inc. (NYSE:ABBV) Shares Sold by North Star Investment Management Corp.

North Star Investment Management Corp. cut its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 6.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 85,047 shares of the company’s stock after selling 5,505 shares during the period. AbbVie makes up approximately 1.2% of North Star Investment Management Corp.’s holdings, making the stock its 12th largest holding. North Star Investment Management Corp.’s holdings in AbbVie were worth $13,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. O Dell Group LLC raised its position in shares of AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its position in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Align Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $27,000. Activest Wealth Management acquired a new position in shares of AbbVie in the 3rd quarter valued at approximately $31,000. Finally, Clear Perspectives Financial Planning LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at approximately $33,000. 67.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $149.53, for a total transaction of $3,738,250.00. Following the completion of the transaction, the executive vice president now owns 233,208 shares of the company’s stock, valued at $34,871,592.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $9,280,095.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,746 shares of company stock valued at $24,267,450. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. BMO Capital Markets dropped their price target on AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. SVB Securities raised AbbVie from an “underperform” rating to a “market perform” rating and upped their price target for the company from $135.00 to $153.00 in a research report on Friday, February 10th. Piper Jaffray Companies upped their price target on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research report on Friday, February 10th. Finally, Morgan Stanley dropped their price target on AbbVie from $182.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Hold” and an average target price of $161.12.

AbbVie Trading Down 0.7 %

NYSE:ABBV opened at $154.22 on Friday. AbbVie Inc. has a 1 year low of $134.09 and a 1 year high of $175.91. The stock has a market cap of $272.88 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.53 and a beta of 0.62. The business has a fifty day moving average of $151.13 and a 200-day moving average of $150.93. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96.

AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. AbbVie had a return on equity of 154.52% and a net margin of 20.39%. The company had revenue of $15.12 billion during the quarter, compared to analysts’ expectations of $15.30 billion. During the same quarter in the prior year, the business posted $3.31 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be paid a $1.48 dividend. The ex-dividend date is Thursday, April 13th. This represents a $5.92 annualized dividend and a dividend yield of 3.84%. AbbVie’s payout ratio is 89.56%.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.