IRON Financial LLC Has $1.14 Million Stake in AbbVie Inc. (NYSE:ABBV)

IRON Financial LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,411 shares of the company’s stock after purchasing an additional 142 shares during the quarter. AbbVie comprises 0.6% of IRON Financial LLC’s portfolio, making the stock its 28th biggest holding. IRON Financial LLC’s holdings in AbbVie were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABBV. Atlanta Consulting Group Advisors LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at $999,000. Saturna Capital Corp boosted its position in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. grew its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares during the period. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 3.9 %

AbbVie stock opened at $176.90 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a market cap of $312.60 billion, a price-to-earnings ratio of 61.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The business’s 50-day moving average price is $175.84 and its 200 day moving average price is $184.89. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Barclays raised their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Guggenheim raised their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley decreased their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Finally, Wells Fargo & Company boosted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.