Huntington National Bank Purchases 6,943 Shares of AbbVie Inc. (NYSE:ABBV)

Huntington National Bank increased its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 531,162 shares of the company’s stock after acquiring an additional 6,943 shares during the quarter. Huntington National Bank’s holdings in AbbVie were worth $94,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Howard Capital Management Group LLC increased its stake in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares during the period. United Bank acquired a new stake in shares of AbbVie during the 3rd quarter valued at about $217,000. Quantbot Technologies LP bought a new stake in AbbVie in the third quarter valued at about $152,000. Finally, Concentric Capital Strategies LP raised its position in AbbVie by 48.8% in the third quarter. Concentric Capital Strategies LP now owns 8,392 shares of the company’s stock worth $1,657,000 after purchasing an additional 2,753 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.6 %

NYSE:ABBV opened at $206.08 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s fifty day simple moving average is $198.94 and its 200-day simple moving average is $189.11. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market capitalization of $364.55 billion, a P/E ratio of 85.87, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the firm posted $2.79 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.18%. AbbVie’s payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Bank of America upped their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.45.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last ninety days. Corporate 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.