AbbVie Inc. (NYSE:ABBV) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora cut its position in AbbVie Inc. (NYSE:ABBV) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,044 shares of the company’s stock after selling 1,289 shares during the period. AbbVie accounts for 1.1% of OLD Second National Bank of Aurora’s holdings, making the stock its 26th largest position. OLD Second National Bank of Aurora’s holdings in AbbVie were worth $4,378,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $3,229,888,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.3 %

NYSE:ABBV traded up $0.52 during mid-day trading on Friday, hitting $170.43. The stock had a trading volume of 1,446,976 shares, compared to its average volume of 5,573,427. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The stock has a 50-day simple moving average of $165.10 and a two-hundred day simple moving average of $168.28. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $300.96 billion, a PE ratio of 50.68, a PEG ratio of 2.18 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 10.73 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Tuesday. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Morgan Stanley lifted their target price on shares of AbbVie from $191.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.07.

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.