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

Brooklyn FI LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,888 shares of the company's stock, valued at approximately $1,083,000.

Other institutional investors also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC raised its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares during the period. Steel Grove Capital Advisors LLC raised its holdings in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC raised its holdings in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after acquiring an additional 54 shares during the period. Physicians Financial Services Inc. grew its position in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC grew its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.0%

Shares of AbbVie stock traded down $0.09 on Friday, hitting $185.53. 11,606,785 shares of the company traded hands, compared to its average volume of 6,281,110. The stock's 50 day moving average price is $185.97 and its 200-day moving average price is $186.26. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $156.20 and a 52 week high of $218.66. The company has a market cap of $327.72 billion, a PE ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABBV shares. Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup reiterated a "neutral" rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

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.