Piscataqua Savings Bank Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Piscataqua Savings Bank raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,978 shares of the company’s stock after purchasing an additional 174 shares during the period. AbbVie makes up about 2.2% of Piscataqua Savings Bank’s investment portfolio, making the stock its 11th largest holding. Piscataqua Savings Bank’s holdings in AbbVie were worth $2,510,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABBV. Vanguard Group Inc. boosted its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors boosted its position in AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank purchased a new stake in AbbVie during the fourth quarter valued at approximately $4,459,385,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 1.3%

AbbVie stock opened at $189.89 on Friday. The business has a fifty day moving average of $184.24 and a two-hundred day moving average of $186.96. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $335.42 billion, a P/E ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup reissued a “neutral” rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $212.19.

About AbbVie

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.