Orca Wealth Management LLC Takes $1.86 Million Position in AbbVie Inc. (NYSE:ABBV)

Orca Wealth Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,447 shares of the company’s stock, valued at approximately $1,856,000. AbbVie accounts for about 1.7% of Orca Wealth Management LLC’s holdings, making the stock its 20th biggest position.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in AbbVie by 0.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock worth $38,948,000 after acquiring an additional 1,843 shares in the last quarter. Invst LLC increased its holdings in shares of AbbVie by 23.0% during the 2nd quarter. Invst LLC now owns 4,133 shares of the company’s stock valued at $704,000 after acquiring an additional 774 shares during the last quarter. Gateway Wealth Partners LLC increased its holdings in shares of AbbVie by 10.2% during the 2nd quarter. Gateway Wealth Partners LLC now owns 2,703 shares of the company’s stock valued at $464,000 after acquiring an additional 250 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of AbbVie by 1.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 32,917 shares of the company’s stock valued at $5,621,000 after acquiring an additional 520 shares during the last quarter. Finally, Ted Buchan & Co acquired a new position in shares of AbbVie during the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Guggenheim raised their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup lowered their target price on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.1 %

ABBV stock opened at $174.88 on Wednesday. The business has a fifty day moving average price of $176.05 and a 200 day moving average price of $184.94. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 1.68 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 (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the firm posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

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.