AbbVie Inc. (NYSE:ABBV) Shares Sold by IRON Financial LLC

IRON Financial LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 60.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,511 shares of the company's stock after selling 3,900 shares during the quarter. IRON Financial LLC's holdings in AbbVie were worth $526,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. LaFleur & Godfrey LLC increased its position in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC lifted its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of AbbVie by 11.1% in the 4th quarter. Fisher Asset Management LLC now owns 43,233 shares of the company's stock worth $7,683,000 after buying an additional 4,319 shares during the last quarter. Finally, Keynote Financial Services LLC lifted its position in shares of AbbVie by 0.6% in the 4th quarter. Keynote Financial Services LLC now owns 40,999 shares of the company's stock worth $7,286,000 after buying an additional 246 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 2.6%

Shares of NYSE:ABBV opened at $181.89 on Monday. The stock has a market capitalization of $321.29 billion, a PE ratio of 77.40, a P/E/G ratio of 1.21 and a beta of 0.50. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm has a fifty day moving average price of $186.21 and a 200 day moving average price of $188.12. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the company posted $2.31 earnings per share. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

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.

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