Northcape Wealth Management LLC Has $2.06 Million Stake in AbbVie Inc. (NYSE:ABBV)

Northcape Wealth Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,587 shares of the company’s stock after selling 1,095 shares during the quarter. Northcape Wealth Management LLC’s holdings in AbbVie were worth $2,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $196.36 on Wednesday. The company has a market capitalization of $347.00 billion, a P/E ratio of 81.82, a PEG ratio of 1.53 and a beta of 0.58. The company has a fifty day moving average price of $179.25 and a 200-day moving average price of $186.06. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results 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 business earned $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.34%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. 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’s stock. According to data from MarketBeat, the company has an average 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.