AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Ironwood Financial llc

Ironwood Financial llc lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,892 shares of the company’s stock after purchasing an additional 171 shares during the period. Ironwood Financial llc’s holdings in AbbVie were worth $571,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. Capital International Investors raised its stake in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares during the period. Legal & General Group Plc boosted its position in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. BMO Capital Markets raised their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Morgan Stanley raised their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. UBS Group upped their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Barclays upped 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. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.31.

AbbVie Trading Down 0.2 %

ABBV traded down $0.39 during mid-day trading on Thursday, reaching $190.07. The stock had a trading volume of 215,474 shares, compared to its average volume of 5,278,874. The stock has a market capitalization of $335.64 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm’s fifty day simple moving average is $194.50 and its two-hundred day simple moving average is $177.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the company earned $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.26%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

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.