Dechtman Wealth Management LLC Purchases 389 Shares of AbbVie Inc. (NYSE:ABBV)

Dechtman Wealth Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,370 shares of the company’s stock after purchasing an additional 389 shares during the period. AbbVie makes up about 0.2% of Dechtman Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Dechtman Wealth Management LLC’s holdings in AbbVie were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. First Hawaiian Bank grew its holdings in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. PGGM Investments lifted its stake in shares of AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares in the last quarter. Foresight Capital Management Advisors Inc. bought a new position in AbbVie in the 2nd quarter worth $1,349,000. Sumitomo Life Insurance Co. increased its stake in AbbVie by 29.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock worth $5,333,000 after buying an additional 6,161 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC raised its holdings in AbbVie by 109.1% during the third quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock valued at $1,249,000 after acquiring an additional 3,301 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.95 during trading hours on Wednesday, reaching $202.63. The stock had a trading volume of 1,548,592 shares, compared to its average volume of 5,302,430. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $357.91 billion, a PE ratio of 70.48, a PEG ratio of 2.54 and a beta of 0.63. The stock’s 50 day moving average is $194.29 and its 200 day moving average is $180.10.

AbbVie (NYSE:ABBV) last released its 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. 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 quarter last year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a 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 payout ratio is presently 215.28%.

About AbbVie

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.