SeaBridge Investment Advisors LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)

SeaBridge Investment Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,586 shares of the company’s stock after purchasing an additional 286 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in AbbVie were worth $581,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABBV. Castle Financial & Retirement Planning Associates Inc. purchased a new stake in AbbVie in the fourth quarter worth about $25,000. Intelligent Financial Strategies purchased a new stake in AbbVie in the fourth quarter worth about $27,000. Psagot Value Holdings Ltd. Israel lifted its stake in AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after acquiring an additional 3,300 shares during the period. Steward Financial Group LLC purchased a new stake in AbbVie in the fourth quarter worth about $30,000. Finally, GoalVest Advisory LLC purchased a new stake in AbbVie in the first quarter worth about $33,000. 67.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ABBV. Wells Fargo & Company upped their price objective on shares of AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. The Goldman Sachs Group upped their price objective on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 12th. Atlantic Securities lowered their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Barclays upped their price objective on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. Finally, BMO Capital Markets increased their target price on AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $160.50.

Insider Activity

In other news, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the transaction, the executive vice president now owns 16,623 shares in the company, valued at approximately $2,576,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares in the company, valued at $2,576,565. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $154.45, for a total value of $15,445,000.00. Following the sale, the insider now owns 152,103 shares of the company’s stock, valued at approximately $23,492,308.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 363,761 shares of company stock worth $55,528,771. 0.08% of the stock is currently owned by company insiders.

AbbVie Stock Down 0.6 %

Shares of NYSE:ABBV opened at $138.04 on Friday. The business has a 50-day moving average price of $147.52 and a 200 day moving average price of $150.06. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The company has a market capitalization of $243.93 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.90 and a beta of 0.70. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last announced its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06. AbbVie had a return on equity of 157.31% and a net margin of 22.03%. The company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same period last year, the business posted $3.11 EPS. AbbVie’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s payout ratio is presently 79.89%.

AbbVie Company Profile

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Beh├žet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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