OLD Second National Bank of Aurora Lowers Position in AbbVie Inc. (NYSE:ABBV)

OLD Second National Bank of Aurora trimmed its position in AbbVie Inc. (NYSE:ABBV) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,284 shares of the company’s stock after selling 661 shares during the period. AbbVie comprises 1.1% of OLD Second National Bank of Aurora’s investment portfolio, making the stock its 26th largest position. OLD Second National Bank of Aurora’s holdings in AbbVie were worth $4,401,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares during the last quarter. Capital International Investors raised its holdings in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.9 %

Shares of ABBV stock opened at $171.10 on Wednesday. The stock has a fifty day simple moving average of $194.14 and a two-hundred day simple moving average of $180.83. AbbVie Inc. has a 52-week low of $136.30 and a 52-week high of $207.32. The firm has a market capitalization of $302.36 billion, a PE ratio of 59.41, a PEG ratio of 2.12 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.95 earnings per share. On average, analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Citigroup decreased their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.06.

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.