Talisman Wealth Advisors LLC Has $392,000 Stake in AbbVie Inc. (NYSE:ABBV)

Talisman Wealth Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,911 shares of the company’s stock after acquiring an additional 241 shares during the period. Talisman Wealth Advisors LLC’s holdings in AbbVie were worth $392,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Retirement Income Solutions Inc bought a new position in AbbVie during the 1st quarter valued at about $204,000. Ergoteles LLC lifted its holdings in AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in AbbVie during the 1st quarter valued at about $1,150,000. Wsfs Capital Management LLC bought a new position in AbbVie during the 1st quarter valued at about $562,000. Finally, Bridgewater Associates LP lifted its holdings in AbbVie by 80.4% during the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the last quarter. 67.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABBV. Morgan Stanley boosted their target price on shares of AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. TheStreet raised shares of AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. Piper Sandler boosted their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Piper Sandler Companies boosted their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Finally, Barclays raised shares of AbbVie from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $160.00 to $170.00 in a research note on Monday, October 30th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.69.

AbbVie Trading Up 0.0 %

NYSE ABBV traded up $0.02 during trading on Friday, reaching $138.30. 4,332,349 shares of the stock traded hands, compared to its average volume of 5,528,588. The firm has a market cap of $244.17 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The stock’s 50-day moving average price is $146.58 and its 200 day moving average price is $143.98. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.09. The firm had revenue of $13.93 billion during the quarter, compared to analysts’ expectations of $13.72 billion. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.66 earnings per share. Analysts predict that AbbVie Inc. will post 11.24 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, January 12th. This is a boost from AbbVie’s previous quarterly dividend of $1.48. AbbVie’s dividend payout ratio is 169.86%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.