Turtle Creek Wealth Advisors LLC Buys 618 Shares of AbbVie Inc. (NYSE:ABBV)

Turtle Creek Wealth Advisors LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 26.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,940 shares of the company’s stock after acquiring an additional 618 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in AbbVie were worth $581,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter worth $27,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 2.7 %

Shares of AbbVie stock traded down $4.64 during midday trading on Friday, reaching $164.99. The company had a trading volume of 11,265,398 shares, compared to its average volume of 5,469,640. The firm has a market cap of $291.56 billion, a PE ratio of 57.26, a P/E/G ratio of 2.07 and a beta of 0.63. The stock has a fifty day moving average price of $192.04 and a 200 day moving average price of $180.78. 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 Inc. has a fifty-two week low of $137.05 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABBV shares. Wells Fargo & Company upped their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.89.

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.