First Hawaiian Bank Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

First Hawaiian Bank boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,941 shares of the company’s stock after purchasing an additional 996 shares during the quarter. First Hawaiian Bank’s holdings in AbbVie were worth $6,209,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABBV. State Street Corp increased its stake in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Legal & General Group Plc lifted its position in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. FMR LLC raised its position in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after purchasing an additional 373,802 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.5 %

Shares of AbbVie stock traded down $0.88 during trading on Wednesday, reaching $178.65. The company’s stock had a trading volume of 3,869,093 shares, compared to its average volume of 4,909,940. The firm’s 50-day moving average is $180.00 and its two-hundred day moving average is $184.42. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a market cap of $315.70 billion, a price-to-earnings ratio of 62.03, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.67%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 227.78%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Wells Fargo & Company lifted their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Finally, UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

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.