ORG Partners LLC Acquires 1,776 Shares of AbbVie Inc. $ABBV

Key Points

• ORG Partners LLC increased its stake in AbbVie by 43.7%, acquiring an additional 1,776 shares during the second quarter, bringing its total holdings to 5,841 shares valued at approximately $1,018,000.
• AbbVie reported a net margin of 6.45% and revenue of $15.42 billion for the last quarter, surpassing analysts' expectations.
• The company declared a quarterly dividend of $1.64, representing a 3.0% yield, with a dividend payout ratio currently at 312.38%.

ORG Partners LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 43.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,841 shares of the company's stock after purchasing an additional 1,776 shares during the quarter. ORG Partners LLC's holdings in AbbVie were worth $1,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie in the second quarter worth $25,000. TD Capital Management LLC boosted its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after buying an additional 58 shares during the period. Abound Financial LLC purchased a new stake in AbbVie in the 1st quarter worth $30,000. Siemens Fonds Invest GmbH raised its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the first quarter valued at about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.0%

ABBV stock opened at $220.75 on Friday. The firm has a fifty day moving average price of $206.24 and a 200 day moving average price of $195.27. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $225.16. The firm has a market cap of $389.97 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 1.28 and a beta of 0.53. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the previous year, the company earned $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 3.0%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABBV shares. Evercore ISI increased their target price on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Guggenheim lifted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and boosted their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Finally, Bank of America raised their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $223.45.

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.

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