Bank of New Hampshire Cuts Position in AbbVie Inc. (NYSE:ABBV)

Bank of New Hampshire decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 15,763 shares of the company’s stock after selling 389 shares during the quarter. Bank of New Hampshire’s holdings in AbbVie were worth $3,303,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. increased its position in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC increased its position in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim raised their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.19.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV opened at $189.89 on Friday. The company’s 50 day simple moving average is $184.24 and its 200 day simple moving average is $187.09. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a market capitalization of $335.42 billion, a PE ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 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.