Bank of Hawaii Sells 815 Shares of AbbVie Inc. (NYSE:ABBV)

Bank of Hawaii lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,831 shares of the company’s stock after selling 815 shares during the period. Bank of Hawaii’s holdings in AbbVie were worth $6,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. Swedbank AB bought a new position in shares of AbbVie during the 1st quarter worth approximately $367,372,000. Assenagon Asset Management S.A. raised its holdings in shares of AbbVie by 314.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after purchasing an additional 997,441 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AbbVie by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after purchasing an additional 623,569 shares in the last quarter. Finally, Saturna Capital Corp boosted its holdings in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $176.95 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $312.70 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 2.09 and a beta of 0.63. The stock’s fifty day moving average price is $189.47 and its two-hundred day moving average price is $181.32. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company posted $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 10.95 EPS 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.50.

About AbbVie

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.