Brooklyn Investment Group Has $2.73 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Brooklyn Investment Group grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 29.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,338 shares of the company’s stock after acquiring an additional 3,502 shares during the period. AbbVie accounts for 0.8% of Brooklyn Investment Group’s holdings, making the stock its 23rd largest position. Brooklyn Investment Group’s holdings in AbbVie were worth $2,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ABBV. Groupama Asset Managment increased its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC bought a new position in AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $171.49 on Friday. The business has a 50-day moving average price of $175.78 and a two-hundred day moving average price of $184.47. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

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

AbbVie Increases Dividend

The company 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 dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s payout ratio is currently 215.28%.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. Piper Sandler raised their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

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.