AbbVie Inc. (NYSE:ABBV) Shares Sold by Northern Financial Advisors Inc

Northern Financial Advisors Inc reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,457 shares of the company’s stock after selling 101 shares during the quarter. Northern Financial Advisors Inc’s holdings in AbbVie were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the fourth quarter valued at about $35,000. Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of AbbVie in the 3rd quarter worth about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $193.54 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a market cap of $342.00 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm’s 50-day simple moving average is $178.24 and its 200-day simple moving average is $185.91.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction 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 $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Morgan Stanley raised their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.