First Hawaiian Bank Buys 996 Shares of AbbVie Inc. (NYSE:ABBV)

First Hawaiian Bank increased its stake in AbbVie Inc. (NYSE:ABBV) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,941 shares of the company’s stock after purchasing an additional 996 shares during the period. First Hawaiian Bank’s holdings in AbbVie were worth $6,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its stake in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. Everence Capital Management Inc. boosted its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC raised its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated 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 directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Down 0.5 %

Shares of ABBV stock traded down $0.88 during trading on Wednesday, hitting $178.65. 3,869,093 shares of the company were exchanged, compared to its average volume of 4,909,940. The business’s 50-day simple moving average is $180.00 and its 200 day simple moving average is $184.42. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The firm has a market capitalization of $315.70 billion, a price-to-earnings ratio of 62.03, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.67%. AbbVie’s payout ratio is 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.