NorthStar Asset Management LLC NJ Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

NorthStar Asset Management LLC NJ lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in AbbVie by 0.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock valued at $38,948,000 after purchasing an additional 1,843 shares in the last quarter. Invst LLC grew its stake in shares of AbbVie by 23.0% during the second quarter. Invst LLC now owns 4,133 shares of the company’s stock valued at $704,000 after acquiring an additional 774 shares in the last quarter. Gateway Wealth Partners LLC increased its position in shares of AbbVie by 10.2% during the second quarter. Gateway Wealth Partners LLC now owns 2,703 shares of the company’s stock worth $464,000 after acquiring an additional 250 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of AbbVie by 1.6% in the second quarter. Pathway Financial Advisers LLC now owns 32,917 shares of the company’s stock worth $5,621,000 after acquiring an additional 520 shares in the last quarter. Finally, Ted Buchan & Co acquired a new stake in AbbVie during the 2nd quarter valued at approximately $272,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $174.88 on Wednesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company 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. The stock has a 50 day simple moving average of $176.05 and a 200-day simple moving average of $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, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABBV shares. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Truist Financial cut their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.00.

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.