First Bancorp Inc ME Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

First Bancorp Inc ME increased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,240 shares of the company’s stock after buying an additional 56 shares during the quarter. First Bancorp Inc ME’s holdings in AbbVie were worth $442,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABBV. Clarity Wealth Advisors LLC lifted its position in AbbVie by 4.6% during the third quarter. Clarity Wealth Advisors LLC now owns 30,406 shares of the company’s stock valued at $6,005,000 after purchasing an additional 1,327 shares in the last quarter. Legacy Financial Strategies LLC lifted its position in shares of AbbVie by 0.4% during the 3rd quarter. Legacy Financial Strategies LLC now owns 18,551 shares of the company’s stock valued at $3,663,000 after buying an additional 67 shares in the last quarter. Raymond James & Associates grew its stake in shares of AbbVie by 0.6% during the 3rd quarter. Raymond James & Associates now owns 4,533,099 shares of the company’s stock valued at $895,196,000 after acquiring an additional 26,954 shares during the period. Chronos Wealth Management LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $246,000. Finally, Blue Trust Inc. raised its stake in AbbVie by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 39,212 shares of the company’s stock worth $7,744,000 after acquiring an additional 11,444 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie Stock Up 0.2 %

Shares of NYSE ABBV opened at $188.86 on Friday. The stock has a market capitalization of $333.50 billion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm’s 50-day moving average price is $194.44 and its 200-day moving average price is $177.74.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.91 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.