Elios Financial Group Inc. Acquires New Shares in AbbVie Inc. (NYSE:ABBV)

Elios Financial Group Inc. 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 2,511 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. Swedbank AB bought a new stake in shares of AbbVie in the first quarter worth $367,372,000. Assenagon Asset Management S.A. increased its position in AbbVie by 314.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after acquiring an additional 997,441 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after acquiring an additional 623,569 shares during the period. Finally, Saturna Capital Corp boosted its position in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABBV. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Truist Financial raised their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday. Barclays upped their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Stock Performance

NYSE:ABBV opened at $177.06 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market cap of $312.89 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 2.16 and a beta of 0.63. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The stock’s 50 day simple moving average is $189.09 and its two-hundred day simple moving average is $181.44.

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, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business 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 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 yield of 3.70%. AbbVie’s dividend payout ratio is 227.78%.

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.