OLD National Bancorp IN Sells 2,218 Shares of AbbVie Inc (ABBV)

OLD National Bancorp IN trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 166,831 shares of the company’s stock after selling 2,218 shares during the period. AbbVie makes up approximately 0.8% of OLD National Bancorp IN’s portfolio, making the stock its 27th largest holding. OLD National Bancorp IN’s holdings in AbbVie were worth $15,779,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Good Life Advisors LLC raised its holdings in AbbVie by 5.6% in the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after acquiring an additional 537 shares during the last quarter. Lido Advisors LLC raised its holdings in AbbVie by 2.4% in the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after acquiring an additional 537 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in AbbVie by 1.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 56,086 shares of the company’s stock worth $5,196,000 after acquiring an additional 550 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in AbbVie by 5.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,631 shares of the company’s stock worth $985,000 after acquiring an additional 564 shares during the last quarter. Finally, Windsor Capital Management LLC raised its holdings in AbbVie by 5.4% in the 2nd quarter. Windsor Capital Management LLC now owns 11,122 shares of the company’s stock worth $1,030,000 after acquiring an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 69.85% of the company’s stock.

In other news, EVP Henry O. Gosebruch sold 42,450 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the completion of the sale, the executive vice president now owns 30,350 shares of the company’s stock, valued at approximately $2,734,535. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Shares of ABBV opened at $94.27 on Monday. The firm has a market cap of $141.80 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.88 and a beta of 1.67. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 1-year low of $77.50 and a 1-year high of $125.86.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business earned $1.41 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc will post 7.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.54%. AbbVie’s payout ratio is presently 68.57%.

A number of brokerages have weighed in on ABBV. BMO Capital Markets reiterated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research note on Wednesday, August 22nd. Wolfe Research began coverage on shares of AbbVie in a research note on Tuesday, October 23rd. They set an “underperform” rating for the company. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Monday, October 1st. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, Barclays reiterated a “hold” rating and set a $90.00 target price on shares of AbbVie in a research note on Sunday, November 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. AbbVie presently has an average rating of “Hold” and an average price target of $103.68.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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