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

Brooklyn Investment Group increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 29.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,338 shares of the company's stock after purchasing an additional 3,502 shares during the period. AbbVie makes up approximately 0.8% of Brooklyn Investment Group's portfolio, making the stock its 23rd largest position. Brooklyn Investment Group's holdings in AbbVie were worth $2,725,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GGM Financials LLC raised its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc grew its stake in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after acquiring an additional 52 shares in the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. First Citizens Financial Corp lifted its position in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after purchasing an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock worth $2,710,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

NYSE:ABBV traded down $2.21 during mid-day trading on Friday, reaching $171.49. 7,581,211 shares of the company's stock were exchanged, compared to its average volume of 4,943,678. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business's fifty day simple moving average is $175.78 and its two-hundred day simple moving average is $184.60. The firm has a market capitalization of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's payout ratio is 215.28%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABBV shares. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 target price on the stock. Bank of America restated a "neutral" rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Finally, 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. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $205.50.

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.