AbbVie Inc. (NYSE:ABBV) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,021 shares of the company’s stock after purchasing an additional 2,590 shares during the quarter. Apollon Wealth Management LLC’s holdings in AbbVie were worth $14,025,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Fairway Wealth LLC bought a new position in AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $39,000. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Burkett Financial Services LLC boosted its position in shares of AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBV. Guggenheim raised their price objective 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. Morgan Stanley upped their price objective on shares of AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Bank of America increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, TD Cowen increased their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.82.

AbbVie Trading Down 12.6 %

NYSE:ABBV 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 debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.71. The stock has a market capitalization of $308.26 billion, a PE ratio of 60.57, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63. The business’s 50-day simple moving average is $194.58 and its 200-day simple moving average is $180.78.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

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.