New Hampshire Trust Purchases 1,092 Shares of AbbVie Inc. (NYSE:ABBV)

New Hampshire Trust grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,357 shares of the company’s stock after buying an additional 1,092 shares during the quarter. AbbVie accounts for 1.5% of New Hampshire Trust’s holdings, making the stock its 12th biggest position. New Hampshire Trust’s holdings in AbbVie were worth $6,621,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Capital International Investors grew its position in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares in the last quarter. Morgan Stanley grew its position in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after purchasing an additional 491,391 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $172.13 on Friday. The company has a market cap of $303.96 billion, a price-to-earnings ratio of 51.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The company has a 50-day moving average price of $163.72 and a 200-day moving average price of $166.45. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

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.