Consilium Wealth Advisory LLC Acquires 5,401 Shares of AbbVie Inc. (NYSE:ABBV)

Consilium Wealth Advisory LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 270.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,401 shares of the company’s stock after purchasing an additional 5,401 shares during the period. AbbVie accounts for about 0.8% of Consilium Wealth Advisory LLC’s holdings, making the stock its 27th largest position. Consilium Wealth Advisory LLC’s holdings in AbbVie were worth $1,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Vanguard Group Inc. lifted its position in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after buying an additional 9,978,415 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. Capital World Investors boosted its stake in shares of AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after purchasing an additional 3,120,310 shares during the period. Capital International Investors boosted its stake in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. Finally, TD Asset Management Inc grew its holdings in AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after purchasing an additional 2,116,997 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Finally, UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

AbbVie Stock Up 0.5 %

Shares of NYSE ABBV traded up $1.06 during midday trading on Wednesday, reaching $202.74. 1,088,987 shares of the company’s stock traded hands, compared to its average volume of 5,300,292. The company has a market cap of $358.11 billion, a price-to-earnings ratio of 70.03, a P/E/G ratio of 2.54 and a beta of 0.63. The stock’s 50 day simple moving average is $194.29 and its 200-day simple moving average is $180.10. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.24%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

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.