AbbVie Inc. $ABBV Holdings Lowered by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,266 shares of the company’s stock after selling 818 shares during the period. OLD Second National Bank of Aurora’s holdings in AbbVie were worth $3,762,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the second quarter valued at $25,000. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter valued at $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the first quarter worth $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the first quarter worth $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Bank of America increased their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, HSBC set a $225.00 price objective on shares of AbbVie in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.52.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $236.98 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The stock has a 50-day simple moving average of $209.90 and a 200 day simple moving average of $195.87. The stock has a market capitalization of $418.63 billion, a PE ratio of 112.85, a P/E/G ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period last year, the company earned $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

AbbVie Company 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.