First Bancorp Inc ME boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 17.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,163 shares of the company’s stock after purchasing an additional 323 shares during the period. First Bancorp Inc ME’s holdings in AbbVie were worth $345,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Johnson & White Wealth Management LLC purchased a new stake in shares of AbbVie in the first quarter valued at about $721,000. Centaurus Financial Inc. boosted its holdings in shares of AbbVie by 4.8% in the third quarter. Centaurus Financial Inc. now owns 14,439 shares of the company’s stock valued at $1,938,000 after acquiring an additional 667 shares in the last quarter. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 2.3% in the fourth quarter. First Citizens Financial Corp now owns 4,505 shares of the company’s stock valued at $728,000 after acquiring an additional 100 shares in the last quarter. Chesapeake Wealth Management boosted its holdings in shares of AbbVie by 21.4% in the fourth quarter. Chesapeake Wealth Management now owns 13,083 shares of the company’s stock valued at $2,114,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Crescent Sterling Ltd. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $3,486,000. 68.27% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Elaine K. Sorg sold 7,499 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the transaction, the senior vice president now owns 35,330 shares in the company, valued at approximately $5,711,801.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Elaine K. Sorg sold 6,130 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 35,330 shares in the company, valued at approximately $5,829,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Elaine K. Sorg sold 7,499 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $161.67, for a total transaction of $1,212,363.33. Following the transaction, the senior vice president now owns 35,330 shares of the company’s stock, valued at approximately $5,711,801.10. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Free Report) last announced its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.02. The business had revenue of $12.23 billion during the quarter, compared to the consensus estimate of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.16 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 10.99 EPS for the current year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $1.48 dividend. The ex-dividend date is Thursday, July 13th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.37%. AbbVie’s dividend payout ratio (DPR) is presently 139.95%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Morgan Stanley boosted their price objective on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Barclays boosted their price objective on shares of AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. StockNews.com assumed coverage on shares of AbbVie in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Finally, Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.40.
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.
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