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

IRON Financial LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) 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:ABBV) 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.

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

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.