AbbVie Inc. (NYSE:ABBV) is ORG Wealth Partners LLC's 10th Largest Position

ORG Wealth Partners LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 54.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,823 shares of the company's stock after acquiring an additional 8,015 shares during the quarter. AbbVie accounts for approximately 1.5% of ORG Wealth Partners LLC's investment portfolio, making the stock its 10th biggest position. ORG Wealth Partners LLC's holdings in AbbVie were worth $4,713,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABBV. Tallon Kerry Patrick purchased a new position in AbbVie in the 4th quarter valued at approximately $309,000. Capital & Planning LLC raised its stake in shares of AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after acquiring an additional 105 shares in the last quarter. LaFleur & Godfrey LLC boosted its holdings in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares during the period. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Finally, Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV traded down $0.22 on Thursday, reaching $185.26. The stock had a trading volume of 3,572,665 shares, compared to its average volume of 6,243,189. The business's 50-day moving average price is $184.75 and its 200 day moving average price is $187.58. The stock has a market cap of $327.24 billion, a P/E ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.29.

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.