34,517 Shares in AbbVie Inc. $ABBV Purchased by Seaview Investment Managers LLC

Seaview Investment Managers LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,517 shares of the company’s stock, valued at approximately $7,887,000. AbbVie makes up 3.0% of Seaview Investment Managers LLC’s holdings, making the stock its 24th largest position.

Other hedge funds also recently modified their holdings of the company. Chelsea Counsel Co. acquired a new stake in shares of AbbVie during the third quarter worth approximately $26,000. Westend Capital Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie during the third quarter worth approximately $31,000. Legacy Wealth Managment LLC ID increased its holdings in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. Finally, WestEnd Advisors LLC increased its holdings in shares of AbbVie by 160.4% during the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ABBV shares. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Barclays started coverage on shares of AbbVie in a research note on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target on the stock. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. UBS Group decreased their price target on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $240.00 price target on shares of AbbVie in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Stock Up 0.1%

Shares of NYSE:ABBV opened at $216.02 on Tuesday. AbbVie Inc. has a 12 month low of $181.71 and a 12 month high of $244.81. The company’s fifty day simple moving average is $208.53 and its 200 day simple moving average is $219.73. The firm has a market cap of $381.65 billion, a price-to-earnings ratio of 106.41, a PEG ratio of 0.74 and a beta of 0.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is currently owned by insiders.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.