AbbVie Inc. (NYSE:ABBV) Stock Holdings Decreased by NorthStar Asset Management LLC NJ

NorthStar Asset Management LLC NJ lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,873 shares of the company’s stock after selling 146 shares during the period. NorthStar Asset Management LLC NJ’s holdings in AbbVie were worth $811,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABBV. Steel Grove Capital Advisors LLC boosted its position in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC raised its holdings in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after acquiring an additional 57 shares in the last quarter. Castle Wealth Management LLC raised its holdings in AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after acquiring an additional 57 shares in the last quarter. Finally, Northstar Group Inc. raised its holdings in AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Guggenheim raised their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $190.34 on Thursday. The business’s fifty day moving average price is $187.31 and its two-hundred day moving average price is $189.55. The stock has a market cap of $336.22 billion, a PE ratio of 81.00, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. 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 one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. AbbVie’s dividend payout ratio is currently 279.15%.

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.