Brookwood Investment Group LLC Sells 1,209 Shares of AbbVie Inc. $ABBV

Brookwood Investment Group LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 35.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,237 shares of the company’s stock after selling 1,209 shares during the quarter. Brookwood Investment Group LLC’s holdings in AbbVie were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABBV. FF Advisors LLC grew its stake in shares of AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after acquiring an additional 53 shares during the last quarter. Private Management Group Inc. grew its stake in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares during the last quarter. LifeSteps Financial Inc. grew its stake in shares of AbbVie by 0.7% in the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after acquiring an additional 54 shares during the last quarter. Silicon Valley Capital Partners grew its stake in shares of AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares during the last quarter. Finally, Seneca House Advisors grew its stake in shares of AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABBV. Morgan Stanley lifted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Erste Group Bank downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research note on Thursday, August 7th. Finally, Bank of America lifted their price target on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $234.80.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $227.67 on Wednesday. The stock has a 50-day simple moving average of $221.56 and a 200 day simple moving average of $199.96. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The stock has a market capitalization of $402.19 billion, a price-to-earnings ratio of 108.41, a P/E/G ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the firm earned $2.65 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

About AbbVie

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.