Brooklyn FI LLC Invests $1.08 Million in AbbVie Inc. (NYSE:ABBV)

Brooklyn FI LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,888 shares of the company’s stock, valued at approximately $1,083,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB grew its holdings in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after acquiring an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC grew its stake in shares of AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares in the last quarter. Principal Financial Group Inc. increased its holdings in AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after buying an additional 273,078 shares during the last quarter. United Bank acquired a new stake in AbbVie in the third quarter valued at $217,000. Finally, BIP Wealth LLC lifted its holdings in AbbVie by 25.9% during the 3rd quarter. BIP Wealth LLC now owns 2,894 shares of the company’s stock worth $572,000 after buying an additional 595 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.8 %

Shares of AbbVie stock opened at $212.21 on Thursday. The company has a market cap of $374.62 billion, a P/E ratio of 88.42, a PEG ratio of 1.62 and a beta of 0.61. The firm has a fifty day moving average of $193.14 and a two-hundred day moving average of $188.48. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company posted $2.79 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.45.

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.