AbbVie Inc. (NYSE:ABBV) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.2% in the first quarter, Holdings Channel.com reports. The fund owned 29,442 shares of the company’s stock after selling 3,335 shares during the period. First Hawaiian Bank’s holdings in AbbVie were worth $5,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lokken Investment Group LLC raised its holdings in shares of AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after buying an additional 58 shares during the period. Aspen Wealth Strategies LLC lifted its position in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares during the period. Avion Wealth boosted its stake in shares of AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the period. Finally, White Pine Capital LLC grew its holdings in shares of AbbVie by 1.2% in the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

Shares of NYSE ABBV opened at $171.36 on Thursday. The stock has a market cap of $302.60 billion, a P/E ratio of 50.85, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a 50 day moving average of $163.63 and a two-hundred day moving average of $166.41. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. On average, research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie 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.