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

OLD Second National Bank of Aurora lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,333 shares of the company’s stock after selling 392 shares during the quarter. AbbVie comprises about 1.1% of OLD Second National Bank of Aurora’s portfolio, making the stock its 26th largest position. OLD Second National Bank of Aurora’s holdings in AbbVie were worth $3,926,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Waterfront Wealth Inc. grew its stake in shares of AbbVie by 2.9% during the fourth 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 during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in AbbVie by 2.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,441 shares of the company’s stock worth $10,606,000 after purchasing an additional 1,769 shares during the period. Daiwa Securities Group Inc. increased its stake in AbbVie by 7.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 168,387 shares of the company’s stock worth $26,095,000 after purchasing an additional 11,775 shares during the period. Oakworth Capital Inc. lifted its position in shares of 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 purchasing an additional 90 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its stake in shares of AbbVie by 0.9% during the fourth quarter. Telos Capital Management Inc. now owns 51,235 shares of the company’s stock valued at $7,940,000 after purchasing an additional 437 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other 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 value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.9 %

ABBV stock traded up $3.04 during trading on Thursday, reaching $167.29. 1,265,707 shares of the company traded hands, compared to its average volume of 5,592,379. The business has a 50 day simple moving average of $175.79 and a 200 day simple moving average of $159.94. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $296.21 billion, a price-to-earnings ratio of 61.22, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the business earned $3.60 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.