Bangor Savings Bank lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,850 shares of the company’s stock after selling 347 shares during the period. Bangor Savings Bank’s holdings in AbbVie were worth $2,522,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of AbbVie during the fourth quarter worth approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Stock Down 1.0 %
Shares of NYSE:ABBV opened at $170.39 on Monday. The company’s fifty day moving average is $163.89 and its 200-day moving average is $166.93. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market capitalization of $300.89 billion, a PE ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.64%. AbbVie’s dividend payout ratio is 183.98%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Piper Sandler upped their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.64.
View Our Latest Report on ABBV
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.
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