AbbVie Inc. (NYSE:ABBV) Shares Sold by ORBA Wealth Advisors L.L.C.

ORBA Wealth Advisors L.L.C. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 28,069 shares of the company’s stock after selling 262 shares during the quarter. AbbVie accounts for about 2.8% of ORBA Wealth Advisors L.L.C.’s investment portfolio, making the stock its 10th largest holding. ORBA Wealth Advisors L.L.C.’s holdings in AbbVie were worth $5,543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie in the 2nd quarter valued at $27,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at $33,000. IFS Advisors LLC acquired a new position in AbbVie in the 1st quarter worth about $36,000. Finally, Quest Partners LLC raised its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABBV shares. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Finally, Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Trading Up 0.0 %

Shares of NYSE:ABBV traded up $0.02 during mid-day trading on Friday, hitting $194.37. The company had a trading volume of 471,595 shares, compared to its average volume of 5,292,299. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The firm has a fifty day moving average price of $193.98 and a 200 day moving average price of $177.30. The company has a market capitalization of $343.32 billion, a PE ratio of 64.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business posted $2.91 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s payout ratio is 206.67%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

About AbbVie

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.