AbbVie Inc. (NYSE:ABBV) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in AbbVie Inc. (NYSE:ABBV) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 129,563 shares of the company’s stock after selling 4,685 shares during the period. AbbVie makes up approximately 0.7% of OLD National Bancorp IN’s portfolio, making the stock its 22nd largest position. OLD National Bancorp IN’s holdings in AbbVie were worth $27,146,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $32,000. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

NYSE:ABBV opened at $189.89 on Friday. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market cap of $335.42 billion, a PE ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. The stock has a 50 day moving average price of $184.24 and a 200 day moving average price of $187.09.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Citigroup reiterated a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Guggenheim increased their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $212.19.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.