Brooklyn Investment Group Acquires 3,502 Shares of AbbVie Inc. (NYSE:ABBV)

Brooklyn Investment Group increased its stake in AbbVie Inc. (NYSE:ABBV) by 29.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,338 shares of the company’s stock after buying an additional 3,502 shares during the quarter. AbbVie accounts for approximately 0.8% of Brooklyn Investment Group’s portfolio, making the stock its 23rd largest holding. Brooklyn Investment Group’s holdings in AbbVie were worth $2,725,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Whitener Capital Management Inc. increased its stake in shares of AbbVie by 0.8% during the 4th quarter. Whitener Capital Management Inc. now owns 38,266 shares of the company’s stock worth $6,800,000 after purchasing an additional 309 shares during the last quarter. Helen Stephens Group LLC lifted its stake in AbbVie by 4.7% in the fourth quarter. Helen Stephens Group LLC now owns 1,369 shares of the company’s stock valued at $243,000 after purchasing an additional 61 shares during the last quarter. Sax Wealth Advisors LLC lifted its stake in AbbVie by 14.0% in the fourth quarter. Sax Wealth Advisors LLC now owns 6,594 shares of the company’s stock valued at $1,172,000 after purchasing an additional 810 shares during the last quarter. Somerset Trust Co lifted its stake in AbbVie by 21.7% in the fourth quarter. Somerset Trust Co now owns 3,281 shares of the company’s stock valued at $583,000 after purchasing an additional 584 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of AbbVie by 2.9% during the 4th quarter. Merit Financial Group LLC now owns 49,226 shares of the company’s stock valued at $8,747,000 after buying an additional 1,375 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Citigroup dropped their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Finally, TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Trading Down 1.3 %

NYSE ABBV opened at $171.49 on Friday. The stock’s 50-day simple moving average is $175.78 and its two-hundred day simple moving average is $184.47. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. Research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

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.