Bank of New Hampshire Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Bank of New Hampshire lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 27.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,207 shares of the company’s stock after selling 7,211 shares during the quarter. Bank of New Hampshire’s holdings in AbbVie were worth $2,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC lifted its position in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC raised its position in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the last quarter. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the completion of the sale, the executive vice president now owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets boosted their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James upped their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Price Performance

NYSE:ABBV traded down $8.07 during trading hours on Friday, reaching $159.22. 4,845,114 shares of the company’s stock were exchanged, compared to its average volume of 5,583,977. The company has a market capitalization of $281.92 billion, a P/E ratio of 58.94, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The business’s 50-day simple moving average is $174.94 and its two-hundred day simple moving average is $160.67.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.11. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.89%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.