Fairview Capital Investment Management LLC Has $840,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Fairview Capital Investment Management LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,728 shares of the company’s stock after selling 460 shares during the quarter. Fairview Capital Investment Management LLC’s holdings in AbbVie were worth $840,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ABBV. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter worth $29,000. EnRich Financial Partners LLC raised its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at $32,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, 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 is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Finally, UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.41.

AbbVie Stock Down 1.3 %

Shares of ABBV opened at $185.58 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $328.28 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 1.62 and a beta of 0.56. The stock’s 50-day moving average price is $194.70 and its 200-day moving average price is $187.26. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 279.15%.

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.