Northcape Wealth Management LLC Buys 900 Shares of AbbVie Inc. (NYSE:ABBV)

Northcape Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,682 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Northcape Wealth Management LLC’s holdings in AbbVie were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of AbbVie during the 1st quarter valued at about $646,000. Quent Capital LLC grew its position in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares during the last quarter. Strait & Sound Wealth Management LLC raised its stake in shares of AbbVie by 1.0% during the first quarter. Strait & Sound Wealth Management LLC now owns 9,267 shares of the company’s stock worth $1,552,000 after acquiring an additional 94 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of AbbVie by 2.1% in the 1st quarter. Jacobi Capital Management LLC now owns 32,430 shares of the company’s stock worth $5,906,000 after acquiring an additional 669 shares during the last quarter. Finally, Northern Capital Management Inc. boosted its stake in shares of AbbVie by 6.7% in the 1st quarter. Northern Capital Management Inc. now owns 1,711 shares of the company’s stock valued at $312,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 2.8 %

Shares of NYSE:ABBV opened at $164.91 on Friday. The firm has a market capitalization of $291.42 billion, a P/E ratio of 57.26, a P/E/G ratio of 2.07 and a beta of 0.63. 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 stock has a 50 day moving average price of $192.04 and a 200-day moving average price of $180.78. AbbVie Inc. has a 52-week low of $137.05 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company earned $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday. They issued an “outperform” rating and a $205.00 price target for the company. Guggenheim increased their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.89.

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.