IRON Financial LLC Purchases 3,669 Shares of AbbVie Inc. (NYSE:ABBV)

IRON Financial LLC raised its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 141.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,269 shares of the company’s stock after purchasing an additional 3,669 shares during the quarter. IRON Financial LLC’s holdings in AbbVie were worth $1,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Community Bank & Trust Waco Texas grew its stake in shares of AbbVie by 0.6% during the 1st quarter. Community Bank & Trust Waco Texas now owns 35,315 shares of the company’s stock valued at $6,431,000 after acquiring an additional 227 shares during the period. Norden Group LLC increased its stake in shares of AbbVie by 2,055.1% in the first quarter. Norden Group LLC now owns 139,587 shares of the company’s stock worth $25,421,000 after purchasing an additional 133,110 shares in the last quarter. Abundance Wealth Counselors raised its position in shares of AbbVie by 0.9% during the 1st quarter. Abundance Wealth Counselors now owns 17,830 shares of the company’s stock valued at $3,247,000 after purchasing an additional 162 shares during the period. Madrona Financial Services LLC raised its position in shares of AbbVie by 82.9% during the 1st quarter. Madrona Financial Services LLC now owns 3,311 shares of the company’s stock valued at $603,000 after purchasing an additional 1,501 shares during the period. Finally, Arcus Capital Partners LLC boosted its holdings in AbbVie by 22.5% in the 1st quarter. Arcus Capital Partners LLC now owns 4,404 shares of the company’s stock worth $802,000 after buying an additional 808 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.3 %

Shares of NYSE:ABBV traded up $2.58 during trading on Thursday, hitting $204.08. The company had a trading volume of 3,507,437 shares, compared to its average volume of 5,308,138. The stock has a market cap of $360.38 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a fifty day simple moving average of $193.85 and a two-hundred day simple moving average of $178.91. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the firm earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 10.85 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. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. 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 yield of 3.21%. AbbVie’s dividend payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. UBS Group raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.11.

View Our Latest Stock Report on ABBV

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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