Northern Capital Management Inc. Sells 114 Shares of AbbVie Inc. (NYSE:ABBV)

Northern Capital Management Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,372 shares of the company’s stock after selling 114 shares during the period. Northern Capital Management Inc.’s holdings in AbbVie were worth $244,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Sovereign Investment Advisors LLC bought a new position in AbbVie during the 4th quarter valued at about $573,000. Harbour Investments Inc. grew its holdings in AbbVie by 3.5% during the 4th quarter. Harbour Investments Inc. now owns 22,958 shares of the company’s stock valued at $4,080,000 after purchasing an additional 780 shares during the last quarter. Corient Private Wealth LLC grew its holdings in AbbVie by 2.5% during the 4th quarter. Corient Private Wealth LLC now owns 2,333,915 shares of the company’s stock valued at $414,002,000 after purchasing an additional 56,369 shares during the last quarter. Gitterman Wealth Management LLC bought a new position in AbbVie in the 4th quarter worth about $266,000. Finally, one8zero8 LLC bought a new position in AbbVie in the 4th quarter worth about $2,070,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ABBV shares. Raymond James restated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,439 shares of company stock valued at $11,377,057. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.2 %

NYSE:ABBV opened at $211.90 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm has a 50 day moving average of $191.09 and a 200 day moving average of $188.10. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $374.07 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. As a group, sell-side analysts anticipate 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 Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is currently 273.33%.

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.