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

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

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of AbbVie in the first quarter valued at $646,000. Quent Capital LLC increased its position in shares of AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the period. Strait & Sound Wealth Management LLC increased its position in shares of AbbVie by 1.0% during the first quarter. Strait & Sound Wealth Management LLC now owns 9,267 shares of the company’s stock valued at $1,552,000 after buying an additional 94 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of AbbVie by 2.1% in the first quarter. Jacobi Capital Management LLC now owns 32,430 shares of the company’s stock worth $5,906,000 after buying an additional 669 shares in the last quarter. Finally, Northern Capital Management Inc. boosted its position in shares of AbbVie by 6.7% in the first quarter. Northern Capital Management Inc. now owns 1,711 shares of the company’s stock valued at $312,000 after acquiring an additional 107 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 2.7 %

Shares of NYSE ABBV traded down $4.64 during midday trading on Friday, hitting $164.99. 11,265,398 shares of the company traded hands, compared to its average volume of 5,469,640. AbbVie Inc. has a 12-month low of $137.05 and a 12-month high of $207.32. The stock has a 50-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 quick ratio of 0.54 and a current ratio of 0.65. The firm has a market cap of $291.56 billion, a P/E ratio of 57.26, a P/E/G ratio of 2.07 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABBV. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim increased their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.