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

First Hawaiian Bank cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,390 shares of the company's stock after selling 2,551 shares during the quarter. First Hawaiian Bank's holdings in AbbVie were worth $6,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lederer & Associates Investment Counsel CA lifted its holdings in AbbVie by 5.3% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 10,870 shares of the company's stock worth $2,277,000 after buying an additional 549 shares during the period. Marotta Asset Management lifted its holdings in AbbVie by 4.2% in the 1st quarter. Marotta Asset Management now owns 1,780 shares of the company's stock worth $352,000 after buying an additional 72 shares during the period. Trust Co of the South lifted its holdings in AbbVie by 2.6% in the 1st quarter. Trust Co of the South now owns 5,676 shares of the company's stock worth $1,189,000 after buying an additional 142 shares during the period. Modus Advisors LLC raised its position in shares of AbbVie by 0.5% in the 1st quarter. Modus Advisors LLC now owns 24,651 shares of the company's stock worth $5,165,000 after acquiring an additional 115 shares in the last quarter. Finally, M1 Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $229,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ABBV shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Raymond James reissued an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Stock Down 0.0%

Shares of AbbVie stock traded down $0.09 on Friday, reaching $185.53. The company's stock had a trading volume of 11,606,785 shares, compared to its average volume of 6,281,110. The company has a market capitalization of $327.72 billion, a price-to-earnings ratio of 77.30, a P/E/G ratio of 1.62 and a beta of 0.56. The firm's fifty day simple moving average is $185.97 and its two-hundred day simple moving average is $186.26. AbbVie Inc. has a 52 week low of $156.20 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.08% of the company's stock.

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.