Bangor Savings Bank decreased its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,447 shares of the company’s stock after selling 541 shares during the quarter. Bangor Savings Bank’s holdings in AbbVie were worth $2,302,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in ABBV. Goepper Burkhardt LLC grew its holdings in shares of AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after buying an additional 67 shares during the last quarter. Sax Wealth Advisors LLC boosted its stake in AbbVie by 0.9% during the 4th quarter. Sax Wealth Advisors LLC now owns 7,633 shares of the company’s stock valued at $1,233,000 after purchasing an additional 70 shares during the last quarter. 1900 Wealth Management LLC increased its holdings in shares of AbbVie by 2.8% in the 4th quarter. 1900 Wealth Management LLC now owns 2,631 shares of the company’s stock worth $425,000 after purchasing an additional 71 shares in the last quarter. Syntal Capital Partners LLC raised its stake in shares of AbbVie by 0.9% in the third quarter. Syntal Capital Partners LLC now owns 7,811 shares of the company’s stock worth $1,048,000 after purchasing an additional 72 shares during the last quarter. Finally, Headinvest LLC lifted its holdings in shares of AbbVie by 0.5% during the third quarter. Headinvest LLC now owns 14,412 shares of the company’s stock valued at $1,934,000 after purchasing an additional 73 shares in the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.
AbbVie Stock Up 2.0 %
Shares of ABBV opened at $138.64 on Tuesday. The business’s 50 day simple moving average is $146.96 and its 200-day simple moving average is $152.72. AbbVie Inc. has a 1 year low of $131.10 and a 1 year high of $168.11. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82. The stock has a market capitalization of $244.60 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58.
Insider Buying and Selling at AbbVie
In other news, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of AbbVie stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,660,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elaine K. Sorg sold 6,130 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the sale, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,829,450. The disclosure for this sale can be found here. Insiders have sold a total of 32,151 shares of company stock worth $5,187,783 over the last ninety days. Company insiders own 0.26% of the company’s stock.
Analyst Upgrades and Downgrades
ABBV has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Wolfe Research cut shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Barclays boosted their target price on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. StockNews.com began coverage on shares of AbbVie in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.40.
AbbVie Profile
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.
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