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

Fairview Capital Investment Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,728 shares of the company’s stock after selling 460 shares during the period. 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 recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares during the last quarter. Watts Gwilliam & Co. LLC increased its holdings in AbbVie by 0.4% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 16,186 shares of the company’s stock valued at $2,906,000 after purchasing an additional 70 shares during the period. Fortitude Family Office LLC raised its holdings in AbbVie by 0.9% during the 4th quarter. Fortitude Family Office LLC now owns 10,350 shares of the company’s stock worth $1,839,000 after purchasing an additional 91 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of AbbVie by 2.5% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,890 shares of the company’s stock valued at $691,000 after purchasing an additional 94 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in AbbVie by 26.5% in the fourth quarter. ORG Partners LLC now owns 12,096 shares of the company’s stock worth $2,155,000 after purchasing an additional 2,535 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.3 %

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

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 279.15%.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABBV. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.41.

AbbVie Company 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.