First National Bank of Hutchinson increased its stake in AbbVie Inc (NYSE:ABBV) by 61.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,230 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. First National Bank of Hutchinson’s holdings in AbbVie were worth $482,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ABBV. Johnson Financial Group Inc. raised its position in AbbVie by 61.0% in the third quarter. Johnson Financial Group Inc. now owns 37,592 shares of the company’s stock worth $3,555,000 after acquiring an additional 14,242 shares in the last quarter. Coastline Trust Co raised its position in AbbVie by 1.0% in the fourth quarter. Coastline Trust Co now owns 21,251 shares of the company’s stock worth $1,959,000 after acquiring an additional 201 shares in the last quarter. Guinness Asset Management Ltd raised its position in AbbVie by 33.2% in the fourth quarter. Guinness Asset Management Ltd now owns 220,210 shares of the company’s stock worth $20,301,000 after acquiring an additional 54,840 shares in the last quarter. Accident Compensation Corp raised its position in AbbVie by 13.0% in the third quarter. Accident Compensation Corp now owns 65,192 shares of the company’s stock worth $6,166,000 after acquiring an additional 7,492 shares in the last quarter. Finally, Veritable L.P. raised its position in AbbVie by 3.5% in the third quarter. Veritable L.P. now owns 114,835 shares of the company’s stock worth $10,861,000 after acquiring an additional 3,934 shares in the last quarter. 68.40% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, January 8th. Bank of America cut shares of AbbVie from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. UBS Group reiterated a “neutral” rating and issued a $91.00 price target (down from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Credit Suisse Group upgraded shares of AbbVie to a “hold” rating and set a $79.00 price target on the stock in a research report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Thursday, December 20th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $94.48.

In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $90.00, for a total transaction of $2,250,000.00. Following the sale, the insider now owns 134,322 shares in the company, valued at approximately $12,088,980. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares in the company, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,797 shares of company stock worth $7,748,437. Corporate insiders own 0.07% of the company’s stock.

NYSE ABBV opened at $81.34 on Friday. The stock has a market cap of $119.98 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.19 and a beta of 1.17. AbbVie Inc has a 1 year low of $75.77 and a 1 year high of $116.73.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 25th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.02). The company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. AbbVie’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. Equities analysts expect that AbbVie Inc will post 8.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, April 12th. This represents a $4.28 annualized dividend and a yield of 5.26%. AbbVie’s payout ratio is presently 54.11%.

AbbVie declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 13th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “AbbVie Inc (ABBV) Shares Bought by First National Bank of Hutchinson” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.dailypolitical.com/2019/03/17/abbvie-inc-abbv-shares-bought-by-first-national-bank-of-hutchinson.html.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

Featured Story: How to find the components of the quick ratio

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.