Orion Portfolio Solutions LLC Sells 11,453 Shares of AbbVie Inc. (NYSE:ABBV)

Orion Portfolio Solutions LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,291 shares of the company’s stock after selling 11,453 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in AbbVie were worth $20,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the period. Morgan Stanley raised its holdings in AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Northern Trust Corp grew its holdings in shares of AbbVie by 2.3% during the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie in the fourth quarter worth about $3,229,888,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.8 %

ABBV traded down $1.20 during mid-day trading on Friday, hitting $157.06. 3,689,855 shares of the stock were exchanged, compared to its average volume of 5,511,237. The firm’s fifty day moving average is $168.36 and its two-hundred day moving average is $162.95. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a market cap of $277.35 billion, a PE ratio of 46.61, a PEG ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target on the stock. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

Insider Transactions at AbbVie

In other AbbVie news, COO Robert A. Michael sold 68,879 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.45, for a total value of $12,153,699.55. Following the transaction, the chief operating officer now directly owns 98,645 shares of the company’s stock, valued at approximately $17,405,910.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, COO Robert A. Michael sold 68,879 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the transaction, the chief operating officer now owns 98,645 shares in the company, valued at approximately $17,405,910.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 302,561 shares of company stock worth $53,645,658 over the last 90 days. 0.25% of the stock is currently owned by 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.