AbbVie Inc. (NYSE:ABBV) is ORBA Wealth Advisors L.L.C.’s 10th Largest Position

ORBA Wealth Advisors L.L.C. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,971 shares of the company’s stock after selling 98 shares during the quarter. AbbVie accounts for approximately 2.6% of ORBA Wealth Advisors L.L.C.’s holdings, making the stock its 10th largest position. ORBA Wealth Advisors L.L.C.’s holdings in AbbVie were worth $4,970,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABBV. AMF Tjanstepension AB purchased a new stake in AbbVie in the third quarter worth approximately $8,777,000. Swedbank AB lifted its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the period. Howard Capital Management Group LLC boosted its stake in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares during the last quarter. Autumn Glory Partners LLC boosted its stake in shares of AbbVie by 30.3% in the 3rd quarter. Autumn Glory Partners LLC now owns 12,488 shares of the company’s stock worth $2,467,000 after buying an additional 2,903 shares during the last quarter. Finally, Old Port Advisors bought a new stake in shares of AbbVie in the third quarter worth $222,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $204.19 on Wednesday. The firm has a market cap of $360.46 billion, a price-to-earnings ratio of 85.08, a P/E/G ratio of 1.62 and a beta of 0.58. The firm has a fifty day moving average price of $182.48 and a 200 day moving average price of $186.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the company posted $2.79 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Finally, Raymond James reissued an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by 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.