Talisman Wealth Advisors LLC Has $538,000 Stake in AbbVie Inc. (NYSE:ABBV)

Talisman Wealth Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,029 shares of the company’s stock after selling 54 shares during the quarter. Talisman Wealth Advisors LLC’s holdings in AbbVie were worth $538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at approximately $29,000. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at $32,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $185.64 on Tuesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company’s 50-day moving average is $190.77 and its 200-day moving average is $186.73. The stock has a market capitalization of $327.92 billion, a PE ratio of 77.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.95.

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.