Brooktree Capital Management Decreases Position in AbbVie Inc. (NYSE:ABBV)

Brooktree Capital Management lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,647 shares of the company’s stock after selling 106 shares during the period. AbbVie makes up about 0.6% of Brooktree Capital Management’s portfolio, making the stock its 24th biggest holding. Brooktree Capital Management’s holdings in AbbVie were worth $720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. PYA Waltman Capital LLC lifted its holdings in shares of AbbVie by 14.0% during the 4th quarter. PYA Waltman Capital LLC now owns 15,806 shares of the company’s stock valued at $2,449,000 after purchasing an additional 1,939 shares during the last quarter. Fiducient Advisors LLC raised its stake in AbbVie by 22.1% in the 4th quarter. Fiducient Advisors LLC now owns 6,404 shares of the company’s stock worth $992,000 after acquiring an additional 1,160 shares during the last quarter. Paces Ferry Wealth Advisors LLC raised its stake in AbbVie by 13.4% in the 4th quarter. Paces Ferry Wealth Advisors LLC now owns 2,472 shares of the company’s stock worth $383,000 after acquiring an additional 293 shares during the last quarter. Mach 1 Financial Group LLC raised its stake in AbbVie by 28.7% in the 4th quarter. Mach 1 Financial Group LLC now owns 18,798 shares of the company’s stock worth $2,913,000 after acquiring an additional 4,187 shares during the last quarter. Finally, Savant Capital LLC raised its stake in AbbVie by 0.4% in the 4th quarter. Savant Capital LLC now owns 137,858 shares of the company’s stock worth $21,364,000 after acquiring an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV traded up $0.55 during trading on Wednesday, reaching $163.19. The company’s stock had a trading volume of 995,899 shares, compared to its average volume of 5,606,386. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a fifty day simple moving average of $174.01 and a two-hundred day simple moving average of $161.10. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $288.95 billion, a price-to-earnings ratio of 48.27, a PEG ratio of 2.04 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company posted $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.80%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the completion of the sale, the executive vice president now directly owns 28,173 shares in the company, valued at $5,000,989.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last quarter. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

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.