Northern Trust Corp Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Northern Trust Corp lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,824,626 shares of the company's stock after buying an additional 2,299,645 shares during the period. AbbVie makes up 0.5% of Northern Trust Corp's holdings, making the stock its 25th biggest position. Northern Trust Corp owned 1.24% of AbbVie worth $3,878,236,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ABBV. The Manufacturers Life Insurance Company raised its position in shares of AbbVie by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,290,058 shares of the company's stock valued at $406,943,000 after buying an additional 20,204 shares during the period. Optiver Holding B.V. lifted its position in shares of AbbVie by 72.2% during the fourth quarter. Optiver Holding B.V. now owns 1,534 shares of the company's stock worth $273,000 after purchasing an additional 643 shares in the last quarter. Bellwether Advisors LLC increased its stake in AbbVie by 6.6% during the 4th quarter. Bellwether Advisors LLC now owns 22,533 shares of the company's stock worth $4,004,000 after buying an additional 1,402 shares during the period. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $306,000. Finally, Second Half Financial Partners LLC increased its holdings in AbbVie by 2.9% during the 4th quarter. Second Half Financial Partners LLC now owns 2,472 shares of the company's stock worth $439,000 after purchasing an additional 70 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 3.1 %

NYSE:ABBV opened at $185.96 on Monday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The business's 50-day moving average is $196.85 and its two-hundred day moving average is $187.13. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $328.96 billion, a PE ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.05). The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.31 earnings per share. Research analysts predict 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. Investors 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 dividend on an annualized basis and a dividend yield of 3.53%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insider Activity at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABBV shares. Morgan Stanley restated a "hold" rating on shares of AbbVie in a research report on Friday, April 11th. Raymond James reissued an "outperform" rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. StockNews.com cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.19.

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.

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