AbbVie Inc. (NYSE:ABBV) Shares Sold by NorthStar Asset Management LLC NJ

NorthStar Asset Management LLC NJ cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 4,019 shares of the company’s stock after selling 286 shares during the period. NorthStar Asset Management LLC NJ’s holdings in AbbVie were worth $714,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Orca Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at $1,856,000. Kennedy Investment Group grew its holdings in shares of AbbVie by 12.7% in the 4th quarter. Kennedy Investment Group now owns 15,400 shares of the company’s stock worth $2,737,000 after acquiring an additional 1,732 shares during the last quarter. BSW Wealth Partners raised its position in shares of AbbVie by 19.6% during the fourth quarter. BSW Wealth Partners now owns 11,475 shares of the company’s stock worth $2,039,000 after purchasing an additional 1,879 shares during the period. Stonegate Investment Group LLC lifted its holdings in shares of AbbVie by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 37,653 shares of the company’s stock valued at $6,691,000 after purchasing an additional 3,996 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of AbbVie by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 111,297 shares of the company’s stock valued at $19,332,000 after purchasing an additional 17,432 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

ABBV opened at $174.88 on Wednesday. The stock has a market cap of $309.04 billion, a PE ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock’s 50 day simple moving average is $176.05 and its 200-day simple moving average is $184.94. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 EPS. Sell-side analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on ABBV shares. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

About AbbVie

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.