SeaCrest Wealth Management LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)


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SeaCrest Wealth Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 46,099 shares of the company’s stock after acquiring an additional 1,667 shares during the period. AbbVie makes up approximately 0.7% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 25th biggest position. SeaCrest Wealth Management LLC’s holdings in AbbVie were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in AbbVie in the 4th quarter valued at about $227,000. Joseph P. Lucia & Associates LLC purchased a new stake in AbbVie in the 4th quarter valued at about $29,000. CVA Family Office LLC purchased a new stake in AbbVie in the 3rd quarter valued at about $26,000. Harding Loevner LP grew its holdings in AbbVie by 118.4% in the 3rd quarter. Harding Loevner LP now owns 332 shares of the company’s stock valued at $29,000 after buying an additional 180 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in AbbVie in the 4th quarter valued at about $38,000. Institutional investors own 67.49% of the company’s stock.

In other AbbVie news, EVP Timothy J. Richmond sold 51,990 shares of the company’s stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $105.00, for a total value of $5,458,950.00. Following the transaction, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at approximately $5,458,950. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the company’s stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total value of $2,655,450.00. Following the completion of the transaction, the executive vice president now directly owns 76,259 shares in the company, valued at $8,007,195. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

AbbVie stock traded down $0.28 during midday trading on Tuesday, hitting $106.78. 124,415 shares of the company were exchanged, compared to its average volume of 7,651,642. The company’s fifty day moving average price is $107.18 and its 200-day moving average price is $97.93. The company has a market cap of $188.52 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81. AbbVie Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $113.41.

AbbVie (NYSE:ABBV) last announced its earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.07. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the company posted $2.21 EPS. AbbVie’s quarterly revenue was up 59.2% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 10.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Wednesday, April 14th. AbbVie’s payout ratio is 58.17%.

Several analysts have commented on the company. BMO Capital Markets started coverage on AbbVie in a report on Wednesday, November 18th. They issued an “outperform” rating and a $123.00 price target for the company. SVB Leerink lifted their price objective on AbbVie from $128.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. Morgan Stanley reduced their price objective on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Tuesday, February 9th. Finally, Royal Bank of Canada lifted their price objective on AbbVie from $129.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $114.39.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet'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), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; 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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