Iron Triangle Partners LP Reduces Position in AbbVie Inc. $ABBV

Iron Triangle Partners LP reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 19.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,326 shares of the company’s stock after selling 49,671 shares during the period. AbbVie accounts for approximately 6.6% of Iron Triangle Partners LP’s holdings, making the stock its 3rd biggest position. Iron Triangle Partners LP’s holdings in AbbVie were worth $46,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in AbbVie by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock worth $41,155,601,000 after acquiring an additional 448,554 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 6.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,783,329 shares of the company’s stock valued at $4,970,848,000 after purchasing an additional 1,517,222 shares during the last quarter. Norges Bank bought a new position in shares of AbbVie in the second quarter worth about $4,288,200,000. Legal & General Group Plc lifted its position in shares of AbbVie by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 12,004,084 shares of the company’s stock worth $2,779,426,000 after purchasing an additional 493,420 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV stock opened at $219.73 on Monday. AbbVie Inc. has a 52-week low of $164.39 and a 52-week high of $244.81. The stock has a market cap of $388.51 billion, a price-to-earnings ratio of 93.10, a P/E/G ratio of 0.76 and a beta of 0.34. The firm has a fifty day moving average of $224.33 and a 200-day moving average of $224.79.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.06. The business had revenue of $16.62 billion for the quarter, compared to analyst estimates of $16.39 billion. AbbVie had a net margin of 6.91% and a negative return on equity of 1,579.75%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie’s payout ratio is presently 293.22%.

Insider Activity at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the sale, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 22,381 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore lowered their target price on AbbVie from $232.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Citigroup cut their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Berenberg Bank set a $275.00 price objective on shares of AbbVie in a research note on Tuesday, January 20th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the stock from $225.00 to $265.00 in a research report on Wednesday, December 10th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.15.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.