AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by OLD National Bancorp IN

OLD National Bancorp IN trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,563 shares of the company's stock after selling 4,685 shares during the quarter. AbbVie accounts for about 0.7% of OLD National Bancorp IN's investment portfolio, making the stock its 22nd biggest position. OLD National Bancorp IN's holdings in AbbVie were worth $27,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SOA Wealth Advisors LLC. increased its position in shares of AbbVie by 1,481.1% during the first quarter. SOA Wealth Advisors LLC. now owns 14,230 shares of the company's stock worth $2,981,000 after acquiring an additional 13,330 shares during the last quarter. Greenspring Advisors LLC grew its stake in AbbVie by 42.2% in the first quarter. Greenspring Advisors LLC now owns 3,677 shares of the company's stock worth $770,000 after purchasing an additional 1,091 shares in the last quarter. Wynn Capital LLC grew its stake in AbbVie by 12.7% in the first quarter. Wynn Capital LLC now owns 9,595 shares of the company's stock worth $2,010,000 after purchasing an additional 1,085 shares in the last quarter. Griffith & Werner Inc. grew its stake in AbbVie by 5.7% in the first quarter. Griffith & Werner Inc. now owns 11,447 shares of the company's stock worth $2,398,000 after purchasing an additional 621 shares in the last quarter. Finally, Wealthcare Capital Partners LLC acquired a new position in AbbVie in the first quarter worth about $263,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated Monday, March 31st. The shares were 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 directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Eight 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 company's stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $212.19.

AbbVie Stock Performance

AbbVie stock traded up $2.42 during midday trading on Friday, reaching $189.89. 3,604,574 shares of the stock traded hands, compared to its average volume of 6,241,127. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a fifty day moving average price of $184.24 and a two-hundred day moving average price of $187.09. The firm has a market cap of $335.42 billion, a price-to-earnings ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.