New Hampshire Trust Has $5.02 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

New Hampshire Trust raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 37,289 shares of the company’s stock after purchasing an additional 143 shares during the quarter. AbbVie comprises 1.3% of New Hampshire Trust’s holdings, making the stock its 18th biggest position. New Hampshire Trust’s holdings in AbbVie were worth $5,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Kalos Management Inc. acquired a new position in AbbVie during the first quarter valued at approximately $26,000. Boulder Wealth Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Stone House Investment Management LLC bought a new stake in shares of AbbVie in the first quarter valued at approximately $37,000. True Wealth Design LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $39,000. Finally, General Partner Inc. bought a new stake in shares of AbbVie in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 67.86% of the company’s stock.

AbbVie Stock Up 1.2 %

Shares of NYSE:ABBV opened at $153.93 on Tuesday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $168.11. The company has a debt-to-equity ratio of 4.33, a quick ratio of 0.77 and a current ratio of 0.89. The company’s fifty day moving average is $146.42 and its 200-day moving average is $147.44. The company has a market capitalization of $271.69 billion, a PE ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $13.52 billion. Equities research analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $5.92 annualized dividend and a dividend yield of 3.85%. AbbVie’s dividend payout ratio is presently 121.81%.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the sale, the chief executive officer now owns 625,294 shares in the company, valued at approximately $93,262,600.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. HSBC initiated coverage on AbbVie in a research report on Friday, July 14th. They issued a “buy” rating and a $167.00 price objective for the company. Piper Sandler increased their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. Piper Jaffray Companies increased their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Finally, StockNews.com assumed coverage on AbbVie in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $165.79.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.