Fairview Capital Investment Management LLC Has $1.99 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Fairview Capital Investment Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,830 shares of the company’s stock after acquiring an additional 165 shares during the period. Fairview Capital Investment Management LLC’s holdings in AbbVie were worth $1,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Morgan Stanley increased its stake in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Northern Trust Corp increased its stake in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the last quarter. Finally, Norges Bank purchased a new stake in AbbVie in the 4th quarter valued at about $3,229,888,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.21.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV traded up $2.92 on Wednesday, hitting $165.06. The stock had a trading volume of 2,177,521 shares, compared to its average volume of 5,529,324. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market capitalization of $291.47 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60. The firm has a 50-day moving average of $165.13 and a 200-day moving average of $164.34.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the company posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 11.26 EPS for the current year.

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.