ORG Partners LLC Buys 2,535 Shares of AbbVie Inc. (NYSE:ABBV)

ORG Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,096 shares of the company’s stock after purchasing an additional 2,535 shares during the period. ORG Partners LLC’s holdings in AbbVie were worth $2,155,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the third quarter valued at $28,000. Fairway Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $26,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the third quarter worth about $39,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 1.3 %

AbbVie stock traded down $2.26 during midday trading on Friday, hitting $176.24. 1,215,088 shares of the company’s stock were exchanged, compared to its average volume of 4,366,336. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $311.44 billion, a PE ratio of 61.19, a P/E/G ratio of 1.92 and a beta of 0.58. The firm has a 50-day moving average of $179.04 and a two-hundred day moving average of $184.34. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is 227.78%.

Analyst Ratings Changes

A number of brokerages have issued reports on ABBV. Guggenheim upped their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley lowered their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. 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 report on Thursday, December 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

AbbVie 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.