Elios Financial Group Inc. Invests $496,000 in AbbVie Inc. (NYSE:ABBV)

Elios Financial Group Inc. purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,511 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds also recently added to or reduced their stakes in ABBV. Legal & General Group Plc grew its stake in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AbbVie by 7.6% during the 2nd 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. Envestnet Asset Management Inc. grew its position in AbbVie by 8.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,051,598 shares of the company’s stock valued at $866,450,000 after acquiring an additional 381,871 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.1 %

Shares of NYSE:ABBV opened at $177.06 on Tuesday. The business’s 50-day moving average is $189.09 and its 200 day moving average is $181.44. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The firm has a market capitalization of $312.89 billion, a P/E ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.63.

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

AbbVie Increases Dividend

The company 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 $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie’s dividend payout ratio is currently 227.78%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen raised their target price 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. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Finally, UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Company 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.