Bank of Hawaii lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,910 shares of the company’s stock after selling 3,444 shares during the quarter. Bank of Hawaii’s holdings in AbbVie were worth $5,784,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its stake in AbbVie by 185.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,118,764 shares of the company’s stock worth $85,239,000 after acquiring an additional 727,151 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in shares of AbbVie by 2.9% during the first quarter. Clear Perspective Advisors LLC now owns 6,059 shares of the company’s stock valued at $462,000 after purchasing an additional 173 shares in the last quarter. AlphaCrest Capital Management LLC increased its holdings in AbbVie by 70.5% during the first quarter. AlphaCrest Capital Management LLC now owns 30,128 shares of the company’s stock valued at $2,295,000 after buying an additional 12,455 shares during the period. Botty Investors LLC raised its stake in AbbVie by 2.7% in the first quarter. Botty Investors LLC now owns 9,085 shares of the company’s stock worth $692,000 after buying an additional 240 shares in the last quarter. Finally, NorthCoast Asset Management LLC purchased a new stake in AbbVie during the first quarter worth $1,162,000. 72.44% of the stock is owned by hedge funds and other institutional investors.

AbbVie stock traded up $0.81 during trading hours on Friday, hitting $93.85. 9,601,130 shares of the stock traded hands, compared to its average volume of 12,602,468. The firm’s 50 day moving average price is $86.92 and its 200-day moving average price is $85.94. The stock has a market capitalization of $134.22 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.93 and a beta of 0.85. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $97.86.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, beating the Zacks’ consensus estimate of $2.25 by $0.17. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. AbbVie’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc will post 10.7 earnings per share for the current year.

In related news, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $1,652,825.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the sale, the senior vice president now owns 52,760 shares in the company, valued at approximately $4,748,400. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

A number of equities research analysts recently weighed in on the company. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Cowen raised their price target on shares of AbbVie from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. UBS Group reduced their price objective on shares of AbbVie from $106.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Mizuho restated a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, May 1st. Finally, Piper Sandler lifted their price target on shares of AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average target price of $101.31.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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