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

Consilium Wealth Advisory LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 270.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,401 shares of the company’s stock after purchasing an additional 5,401 shares during the period. AbbVie makes up 0.8% of Consilium Wealth Advisory LLC’s investment portfolio, making the stock its 27th largest holding. Consilium Wealth Advisory LLC’s holdings in AbbVie were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its stake in shares of AbbVie by 2.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 69,133 shares of the company’s stock worth $13,652,000 after acquiring an additional 1,754 shares in the last quarter. Centennial Wealth Advisory LLC grew its stake in shares of AbbVie by 27.3% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 2,198 shares of the company’s stock worth $434,000 after buying an additional 471 shares during the last quarter. Maia Wealth LLC increased its position in AbbVie by 5.0% during the 3rd quarter. Maia Wealth LLC now owns 2,961 shares of the company’s stock valued at $562,000 after buying an additional 142 shares in the last quarter. Umpqua Bank raised its stake in AbbVie by 6.4% during the third quarter. Umpqua Bank now owns 2,352 shares of the company’s stock valued at $464,000 after buying an additional 142 shares during the last quarter. Finally, Benchmark Financial Wealth Advisors LLC boosted its holdings in AbbVie by 34.6% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,799 shares of the company’s stock worth $553,000 after acquiring an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Truist Financial upped their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Price Performance

Shares of NYSE ABBV traded up $1.06 during midday trading on Wednesday, reaching $202.74. The stock had a trading volume of 1,088,987 shares, compared to its average volume of 5,300,292. The company has a market capitalization of $358.11 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The stock has a 50-day moving average of $194.29 and a 200-day moving average of $180.10. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

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

AbbVie Increases Dividend

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

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.