North Star Investment Management Corp. Sells 651 Shares of AbbVie Inc. (NYSE:ABBV)

North Star Investment Management Corp. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,431 shares of the company’s stock after selling 651 shares during the period. AbbVie comprises about 1.2% of North Star Investment Management Corp.’s investment portfolio, making the stock its 14th biggest position. North Star Investment Management Corp.’s holdings in AbbVie were worth $16,871,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABBV. Fairway Wealth LLC purchased a new position in shares of AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the second quarter worth about $27,000. Marquette Asset Management LLC bought a new position in AbbVie in the 3rd quarter valued at approximately $39,000. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC lifted its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.3 %

NYSE:ABBV traded up $0.68 during mid-day trading on Tuesday, reaching $201.15. The stock had a trading volume of 788,448 shares, compared to its average volume of 5,299,043. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The business’s 50 day moving average is $194.18 and its 200 day moving average is $179.85. The stock has a market cap of $355.30 billion, a P/E ratio of 69.61, a PEG ratio of 2.54 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Finally, UBS Group boosted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

AbbVie 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.