Hancock Whitney Corp Has $8.91 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hancock Whitney Corp lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 83.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,143 shares of the company's stock after selling 255,874 shares during the quarter. Hancock Whitney Corp's holdings in AbbVie were worth $8,910,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock opened at $177.28 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company's 50 day moving average price is $197.30 and its two-hundred day moving average price is $187.37. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $313.60 billion, a P/E ratio of 73.87, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is 273.33%.

Analyst Ratings Changes

A number of research analysts have commented on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday. They issued an "overweight" rating and a $210.00 price objective on the stock. UBS Group upped their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America raised their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Guggenheim reissued a "buy" rating and set a $214.00 target price on shares of AbbVie in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $211.19.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares of the company's stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last ninety days. 0.25% of the stock is currently owned by insiders.

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.

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