Bank of New Hampshire reduced its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,139 shares of the company’s stock after selling 1,391 shares during the period. AbbVie makes up approximately 1.3% of Bank of New Hampshire’s investment portfolio, making the stock its 19th biggest holding. Bank of New Hampshire’s holdings in AbbVie were worth $4,463,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $25,000. Intelligent Financial Strategies purchased a new position in shares of AbbVie during the fourth quarter worth $27,000. Psagot Value Holdings Ltd. Israel raised its holdings in shares of AbbVie by 311.3% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares during the last quarter. GoalVest Advisory LLC purchased a new position in shares of AbbVie during the first quarter worth $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie during the first quarter worth $34,000. 68.25% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently issued reports on ABBV shares. Piper Sandler reduced their target price on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Atlantic Securities reduced their target price on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, August 1st. UBS Group reduced their target price on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday, August 1st. SVB Leerink started coverage on shares of AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $159.35.
AbbVie Stock Up 1.1 %
AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.09. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.11 earnings per share. Equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.92%. AbbVie’s dividend payout ratio is currently 79.89%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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