Fairman Group LLC Buys Shares of 496 AbbVie Inc. (NYSE:ABBV)

Fairman Group LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 496 shares of the company’s stock, valued at approximately $77,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the fourth quarter worth $26,000. Able Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie during the fourth quarter worth about $37,000. Clarity Asset Management Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $42,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $44,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $171.35 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $302.58 billion, a PE ratio of 50.85, a P/E/G ratio of 2.16 and a beta of 0.60. The firm has a fifty day simple moving average of $163.58 and a 200 day simple moving average of $166.38. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler increased their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target on the stock. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

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.