Fairfield Financial Advisors LTD Invests $149,000 in AbbVie Inc. (NYSE:ABBV)

Fairfield Financial Advisors LTD purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 867 shares of the company’s stock, valued at approximately $149,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its holdings in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. Capital International Investors grew its position in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors increased its stake in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after buying an additional 992,496 shares during the period. Janus Henderson Group PLC lifted its position in AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after buying an additional 1,240,434 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of AbbVie by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock valued at $1,956,518,000 after buying an additional 1,291,201 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.1 %

Shares of NYSE:ABBV opened at $194.21 on Monday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock’s 50-day moving average is $186.83 and its 200-day moving average is $175.22. The company has a market cap of $343.04 billion, a P/E ratio of 57.63, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm posted $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Morgan Stanley upped their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Buy” and an average target price of $191.64.

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.