2,473 Shares in AbbVie Inc. (NYSE:ABBV) Bought by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,473 shares of the company’s stock, valued at approximately $518,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its stake in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake 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 worth $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC increased its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after purchasing an additional 54 shares during the last quarter. Connecticut Wealth Management LLC increased its stake in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after purchasing an additional 57 shares during the last quarter. Finally, Northstar Group Inc. increased its stake in shares of AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock worth $1,783,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $185.16 on Friday. The stock’s fifty day simple moving average is $185.19 and its 200 day simple moving average is $187.70. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The firm has a market cap of $327.06 billion, a price-to-earnings ratio of 78.79, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share 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 period in the prior year, the business posted $2.31 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.29.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.