Huntington National Bank Has $49.22 Million Stake in AbbVie Inc. (ABBV)

Huntington National Bank increased its position in AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 508,909 shares of the company’s stock after acquiring an additional 6,723 shares during the quarter. Huntington National Bank’s holdings in AbbVie were worth $49,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. lifted its position in AbbVie by 24.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 740,392 shares of the company’s stock valued at $53,686,000 after purchasing an additional 145,691 shares during the last quarter. Spectrum Management Group Inc. lifted its position in AbbVie by 11.5% during the second quarter. Spectrum Management Group Inc. now owns 28,100 shares of the company’s stock valued at $2,038,000 after purchasing an additional 2,892 shares during the last quarter. AGF Investments America Inc. lifted its position in AbbVie by 3.6% during the second quarter. AGF Investments America Inc. now owns 29,064 shares of the company’s stock valued at $2,107,000 after purchasing an additional 1,017 shares during the last quarter. Ffcm LLC lifted its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Finally, Fiduciary Trust Co. lifted its position in AbbVie by 3.2% during the second quarter. Fiduciary Trust Co. now owns 321,953 shares of the company’s stock valued at $23,345,000 after purchasing an additional 10,113 shares during the last quarter. Institutional investors own 70.54% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of NYSE ABBV opened at $92.21 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc. has a 52 week low of $63.12 and a 52 week high of $125.86. The firm has a market capitalization of $143,854.47, a P/E ratio of 16.47, a PEG ratio of 0.86 and a beta of 1.61.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. analysts anticipate that AbbVie Inc. will post 7.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.16%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is presently 50.71%.

AbbVie declared that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Several equities research analysts have issued reports on ABBV shares. SunTrust Banks lifted their target price on shares of AbbVie to $157.00 and gave the company an “average” rating in a research report on Monday, January 29th. Jefferies Group lifted their target price on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Piper Jaffray reiterated a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $117.38.

In related news, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total value of $9,568,387.26. Following the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,197 shares of company stock worth $24,585,575. 0.07% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Huntington National Bank Has $49.22 Million Stake in AbbVie Inc. (ABBV)” was published by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3334225/huntington-national-bank-has-49-22-million-stake-in-abbvie-inc-abbv.html.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

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.

Latest News

Invesco Van Kampen Municpl Opprtnty Trst  Earning Somewhat Positive Press Coverage, Report Shows
Invesco Van Kampen Municpl Opprtnty Trst Earning Somewhat Positive Press Coverage, Report Shows
Spartan Motors  vs. Its Competitors Head-To-Head Contrast
Spartan Motors vs. Its Competitors Head-To-Head Contrast
Critical Survey: Dorel Industries  versus Ethan Allen
Critical Survey: Dorel Industries versus Ethan Allen
Enerplus Announces May 18 Dividend of $0.01
Enerplus Announces May 18 Dividend of $0.01
Cominar REIT  to Issue Monthly Dividend of $0.06
Cominar REIT to Issue Monthly Dividend of $0.06
Pingtan Marine Enterprise  Announces $0.01 Quarterly Dividend
Pingtan Marine Enterprise Announces $0.01 Quarterly Dividend


© 2006-2018 Ticker Report. Google+.