AbbVie Inc (ABBV) Shares Bought by First National Bank of Hutchinson
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.
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.
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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.
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