Apollon Financial LLC Invests $205,000 in AbbVie Inc. (NYSE:ABBV)

Apollon Financial LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,038 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC raised its stake in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter valued at about $39,000. Finally, Burkett Financial Services LLC increased its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 12.6 %

Shares of NYSE ABBV opened at $174.44 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $308.26 billion, a price-to-earnings ratio of 60.57, a PEG ratio of 2.44 and a beta of 0.63. AbbVie Inc. has a 52 week low of $136.30 and a 52 week high of $207.32. The firm’s fifty day moving average is $194.14 and its 200 day moving average is $180.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 earnings per share. On average, equities research analysts expect 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 given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.76%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. Citigroup lifted their price objective on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $205.82.

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.