OLD Second National Bank of Aurora Sells 392 Shares of AbbVie Inc. (NYSE:ABBV)

OLD Second National Bank of Aurora trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,333 shares of the company’s stock after selling 392 shares during the quarter. AbbVie comprises approximately 1.1% of OLD Second National Bank of Aurora’s investment portfolio, making the stock its 26th biggest position. OLD Second National Bank of Aurora’s holdings in AbbVie were worth $3,926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Waterfront Wealth Inc. grew its holdings in AbbVie by 2.9% in the 4th quarter. Waterfront Wealth Inc. now owns 7,333 shares of the company’s stock valued at $1,136,000 after buying an additional 204 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of AbbVie by 2.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,441 shares of the company’s stock valued at $10,606,000 after acquiring an additional 1,769 shares in the last quarter. Daiwa Securities Group Inc. increased its position in AbbVie by 7.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 168,387 shares of the company’s stock worth $26,095,000 after acquiring an additional 11,775 shares during the period. Oakworth Capital Inc. increased its position in AbbVie by 0.7% during the fourth quarter. Oakworth Capital Inc. now owns 13,222 shares of the company’s stock worth $2,049,000 after acquiring an additional 90 shares during the period. Finally, Telos Capital Management Inc. raised its stake in AbbVie by 0.9% in the 4th quarter. Telos Capital Management Inc. now owns 51,235 shares of the company’s stock worth $7,940,000 after purchasing an additional 437 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

Shares of ABBV traded up $3.04 during trading hours on Thursday, reaching $167.29. The stock had a trading volume of 1,265,707 shares, compared to its average volume of 5,592,379. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a market capitalization of $296.21 billion, a PE ratio of 61.22, a PEG ratio of 2.09 and a beta of 0.58. The company’s 50-day moving average is $175.79 and its two-hundred day moving average is $159.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Research analysts expect that AbbVie Inc. will post 11.17 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is owned by company insiders.

About AbbVie

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.