AbbVie Inc. (NYSE:ABBV) Shares Sold by Northstar Group Inc.

Northstar Group Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,485 shares of the company’s stock after selling 100 shares during the period. Northstar Group Inc.’s holdings in AbbVie were worth $1,676,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABBV. Frisch Financial Group Inc. raised its holdings in AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares during the period. First Citizens Financial Corp grew its stake in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of AbbVie by 1.3% in the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after acquiring an additional 55 shares in the last quarter. Hilltop Partners LLC raised its position in shares of AbbVie by 1.4% during the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after purchasing an additional 55 shares during the period. Finally, Longfellow Investment Management Co. LLC raised its position in shares of AbbVie by 1.0% during the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after purchasing an additional 58 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABBV shares. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. UBS Group raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Finally, Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Stock Performance

Shares of ABBV traded down $0.15 during trading hours on Thursday, hitting $194.60. The company had a trading volume of 167,151 shares, compared to its average volume of 5,299,572. The firm has a market cap of $343.64 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The business has a fifty day moving average of $193.89 and a 200-day moving average of $177.18.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $2.91 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. AbbVie’s payout ratio is 183.98%.

AbbVie 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.