Fairway Wealth LLC Purchases New Position in AbbVie Inc. (NYSE:ABBV)

Fairway Wealth LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 400 shares of the company’s stock, valued at approximately $71,000.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. FMR LLC grew its holdings in shares of AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. 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 business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $216.62 on Tuesday. The company has a market cap of $382.41 billion, a price-to-earnings ratio of 90.26, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a 50 day moving average of $188.44 and a 200-day moving average of $187.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the business earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.03%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.