Huntington National Bank Has $125.30 Million Position in AbbVie Inc. $ABBV

Huntington National Bank lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 675,008 shares of the company’s stock after buying an additional 53,577 shares during the quarter. AbbVie comprises 0.8% of Huntington National Bank’s investment portfolio, making the stock its 29th largest position. Huntington National Bank’s holdings in AbbVie were worth $125,295,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. increased its holdings in shares of AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after acquiring an additional 3,666,521 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $581,817,000. Finally, Invesco Ltd. increased its holdings in shares of AbbVie by 17.5% during the first quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock valued at $1,753,064,000 after acquiring an additional 1,246,863 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of AbbVie from $250.00 to $260.00 and gave the stock an “overweight” rating in a research note on Monday. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Thursday, August 7th. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.85.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $212.04 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $374.58 billion, a PE ratio of 100.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. The business’s 50-day moving average price is $222.51 and its 200-day moving average price is $201.42. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The firm had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be issued a $1.73 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio (DPR) is 524.24%.

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.