Balefire LLC Buys 473 Shares of AbbVie Inc. (NYSE:ABBV)

Balefire LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 28.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,123 shares of the company’s stock after purchasing an additional 473 shares during the quarter. Balefire LLC’s holdings in AbbVie were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the fourth quarter worth $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Up 0.0%

Shares of AbbVie stock opened at $185.64 on Thursday. The company has a market capitalization of $327.91 billion, a P/E ratio of 79.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business has a 50-day moving average of $185.74 and a two-hundred day moving average of $187.81. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results 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 return on equity of 412.03% and a net margin of 7.31%. The business 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 business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie’s dividend payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

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.