ORG Wealth Partners LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

ORG Wealth Partners LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,808 shares of the company’s stock after purchasing an additional 1,812 shares during the period. AbbVie accounts for approximately 0.9% of ORG Wealth Partners LLC’s portfolio, making the stock its 13th biggest position. ORG Wealth Partners LLC’s holdings in AbbVie were worth $2,632,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GGM Financials LLC boosted its stake in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc grew its holdings in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. raised its stake in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. boosted its holdings in shares of AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after purchasing an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp increased its holdings in shares of AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV traded down $1.82 during trading hours on Friday, hitting $176.68. 1,727,803 shares of the company were exchanged, compared to its average volume of 4,453,002. The firm has a fifty day simple moving average of $179.04 and a 200-day simple moving average of $184.34. The company has a market capitalization of $312.22 billion, a PE ratio of 61.35, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $2.95 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABBV. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

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.