Piscataqua Savings Bank Sells 173 Shares of AbbVie Inc. (NYSE:ABBV)

Piscataqua Savings Bank cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,804 shares of the company’s stock after selling 173 shares during the quarter. AbbVie accounts for about 1.8% of Piscataqua Savings Bank’s portfolio, making the stock its 12th largest position. Piscataqua Savings Bank’s holdings in AbbVie were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Lighthouse Wealth Management Inc. acquired a new position in AbbVie in the 4th quarter worth about $1,773,000. Mount Yale Investment Advisors LLC grew its holdings in shares of AbbVie by 5.6% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 28,552 shares of the company’s stock worth $5,074,000 after purchasing an additional 1,514 shares during the last quarter. Curran Financial Partners LLC increased its stake in shares of AbbVie by 22.7% in the fourth quarter. Curran Financial Partners LLC now owns 2,373 shares of the company’s stock valued at $422,000 after buying an additional 439 shares during the period. Cornerstone Wealth Group LLC boosted its position in AbbVie by 1.7% during the 4th quarter. Cornerstone Wealth Group LLC now owns 68,784 shares of the company’s stock worth $12,223,000 after buying an additional 1,127 shares during the period. Finally, KBC Group NV grew its holdings in AbbVie by 5.0% during the 4th quarter. KBC Group NV now owns 1,146,550 shares of the company’s stock worth $203,742,000 after acquiring an additional 54,501 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Citigroup cut their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Trading Up 3.9 %

NYSE:ABBV opened at $176.90 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $312.60 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58. The firm has a fifty day simple moving average of $175.84 and a two-hundred day simple moving average of $184.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s payout ratio is currently 227.78%.

AbbVie Company 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.