Fairvoy Private Wealth LLC Makes New $348,000 Investment in AbbVie Inc. (NYSE:ABBV)

Fairvoy Private Wealth LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,961 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds have also made changes to their positions in the company. Keystone Financial Group Inc. bought a new position in shares of AbbVie during the 4th quarter valued at about $207,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of AbbVie by 14.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 259,270 shares of the company’s stock valued at $46,072,000 after acquiring an additional 32,467 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of AbbVie by 17,813.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 265,831 shares of the company’s stock worth $472,000 after acquiring an additional 264,347 shares in the last quarter. Encompass Wealth Advisors LLC grew its holdings in shares of AbbVie by 5.7% in the 4th quarter. Encompass Wealth Advisors LLC now owns 2,056 shares of the company’s stock worth $365,000 after acquiring an additional 110 shares during the last quarter. Finally, Consolidated Portfolio Review Corp raised its position in shares of AbbVie by 24.4% during the fourth quarter. Consolidated Portfolio Review Corp now owns 1,986 shares of the company’s stock worth $353,000 after purchasing an additional 389 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $190.67 on Friday. The stock has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58. The business has a 50-day moving average of $177.38 and a two-hundred day moving average of $185.48. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business earned $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.