AbbVie Inc. (NYSE:ABBV) Shares Sold by Bank of New Hampshire

Bank of New Hampshire trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the first quarter, HoldingsChannel reports. The fund owned 18,760 shares of the company’s stock after selling 447 shares during the quarter. Bank of New Hampshire’s holdings in AbbVie were worth $3,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie during the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in AbbVie during the fourth quarter worth $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.9 %

ABBV stock opened at $170.57 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market cap of $301.20 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 2.19 and a beta of 0.60. The business has a fifty day simple moving average of $163.89 and a 200-day simple moving average of $166.64. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Piper Sandler upped their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $179.64.

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.