Hancock Whitney Corp Acquires 3,754 Shares of AbbVie Inc (NYSE:ABBV)

Hancock Whitney Corp grew its holdings in AbbVie Inc (NYSE:ABBV) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,813 shares of the company’s stock after acquiring an additional 3,754 shares during the quarter. Hancock Whitney Corp’s holdings in AbbVie were worth $12,785,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ABBV. Norges Bank acquired a new position in shares of AbbVie during the fourth quarter worth about $1,300,469,000. Nuveen Asset Management LLC boosted its position in shares of AbbVie by 1,715.8% during the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after buying an additional 9,065,487 shares during the period. FMR LLC boosted its position in shares of AbbVie by 56.5% during the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock worth $1,063,799,000 after buying an additional 4,765,946 shares during the period. BlackRock Inc. boosted its position in shares of AbbVie by 3.3% during the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after buying an additional 3,100,309 shares during the period. Finally, Putnam Investments LLC boosted its position in shares of AbbVie by 433.3% during the second quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock worth $264,327,000 after buying an additional 2,953,331 shares during the period. Institutional investors own 68.15% of the company’s stock.

In other AbbVie news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $64.44 per share, with a total value of $1,002,170.88. Following the completion of the transaction, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Henry O. Gosebruch acquired 30,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $67.28 per share, with a total value of $2,018,400.00. Following the completion of the transaction, the executive vice president now owns 75,763 shares of the company’s stock, valued at $5,097,334.64. The disclosure for this purchase can be found here. Insiders have purchased 143,077 shares of company stock valued at $9,564,951 over the last three months. Insiders own 0.08% of the company’s stock.

Several research analysts have recently weighed in on ABBV shares. Leerink Swann raised AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Wednesday, June 26th. Finally, UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $85.00 to $79.00 in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.04.

NYSE ABBV traded down $2.42 during trading hours on Tuesday, hitting $73.30. 6,090,243 shares of the company traded hands, compared to its average volume of 7,977,635. The business’s 50-day moving average is $68.49 and its 200-day moving average is $74.23. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $96.60. The stock has a market capitalization of $110.66 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 1.53 and a beta of 0.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc will post 8.9 EPS for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

About AbbVie

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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