OLD National Bancorp IN Sells 8,609 Shares of AbbVie Inc. (NYSE:ABBV)

OLD National Bancorp IN reduced its stake in AbbVie Inc. (NYSE:ABBV) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,248 shares of the company’s stock after selling 8,609 shares during the period. OLD National Bancorp IN’s holdings in AbbVie were worth $23,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Westhampton Capital LLC increased its stake in shares of AbbVie by 15.5% in the 4th quarter. Westhampton Capital LLC now owns 10,174 shares of the company’s stock valued at $1,808,000 after purchasing an additional 1,365 shares during the last quarter. First Affirmative Financial Network lifted its holdings in AbbVie by 8.3% in the fourth quarter. First Affirmative Financial Network now owns 5,166 shares of the company’s stock valued at $918,000 after buying an additional 395 shares during the period. Abel Hall LLC lifted its position in shares of AbbVie by 7.0% during the 4th quarter. Abel Hall LLC now owns 2,605 shares of the company’s stock valued at $463,000 after acquiring an additional 171 shares during the period. Synergy Asset Management LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $1,576,000. Finally, Strategic Planning Group LLC boosted its stake in AbbVie by 4.6% during the 4th quarter. Strategic Planning Group LLC now owns 35,322 shares of the company’s stock valued at $6,277,000 after purchasing an additional 1,563 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $175.21 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market capitalization of $309.62 billion, a PE ratio of 60.84, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a 50 day moving average price of $176.22 and a 200-day moving average price of $184.97. 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 issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. UBS Group increased their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

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.