Iron Horse Wealth Management LLC Has $88,000 Position in AbbVie Inc. $ABBV

Iron Horse Wealth Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 78.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 476 shares of the company’s stock after acquiring an additional 210 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in AbbVie were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 1.1%

ABBV opened at $234.07 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm’s fifty day moving average price is $210.77 and its two-hundred day moving average price is $195.90. The company has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ABBV shares. Cantor Fitzgerald lifted their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Piper Sandler began coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price on the stock. Finally, UBS Group set a $251.00 target price on shares of AbbVie in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $228.22.

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.