Apollon Financial LLC Acquires New Shares in AbbVie Inc. (NYSE:ABBV)

Apollon Financial LLC bought a new position in AbbVie Inc. (NYSE:ABBV) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,038 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in shares of AbbVie during the 1st quarter valued at about $646,000. Quent Capital LLC lifted its position in 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 purchasing an additional 283 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in AbbVie by 65.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,041,447 shares of the company’s stock worth $189,647,000 after buying an additional 412,920 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of AbbVie by 14.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 33,720 shares of the company’s stock valued at $6,140,000 after buying an additional 4,235 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after acquiring an additional 2,116,997 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $174.44 on Tuesday. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32. The company has a market capitalization of $308.26 billion, a PE ratio of 60.57, a P/E/G ratio of 2.44 and a beta of 0.63. The company has a 50 day moving average price of $194.14 and a 200-day moving average price of $180.83. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65.

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

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.76%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. BMO Capital Markets raised their price objective on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.82.

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.