Northcape Wealth Management LLC Has $2.06 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Northcape Wealth Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,587 shares of the company’s stock after selling 1,095 shares during the quarter. Northcape Wealth Management LLC’s holdings in AbbVie were worth $2,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the third quarter valued at about $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC boosted its stake in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $196.36 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s 50 day simple moving average is $179.25 and its 200 day simple moving average is $186.06. 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 $347.00 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the firm posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.34%. AbbVie’s payout ratio is 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Company 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.