SeaCrest Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,099 shares of the company’s stock after buying an additional 1,667 shares during the quarter. AbbVie comprises about 0.7% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. 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).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in AbbVie by 2.0% in the fourth quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock valued at $13,331,975,000 after buying an additional 2,406,847 shares during the last quarter. Morgan Stanley lifted its position in AbbVie by 10.4% in the third quarter. Morgan Stanley now owns 13,731,455 shares of the company’s stock valued at $1,202,737,000 after buying an additional 1,296,673 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of AbbVie by 4.9% during the third quarter. UBS Asset Management Americas Inc. now owns 9,175,157 shares of the company’s stock worth $803,652,000 after purchasing an additional 426,045 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of AbbVie by 0.8% during the third quarter. Allianz Asset Management GmbH now owns 4,626,530 shares of the company’s stock worth $405,239,000 after purchasing an additional 37,011 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of AbbVie by 4.7% during the fourth quarter. California Public Employees Retirement System now owns 4,439,104 shares of the company’s stock worth $475,650,000 after purchasing an additional 200,682 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.
AbbVie stock traded down $0.28 during mid-day trading on Tuesday, hitting $106.78. The company had a trading volume of 124,415 shares, compared to its average volume of 7,651,642. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The stock has a market cap of $188.52 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.54 and a beta of 0.84. The business has a fifty day moving average of $107.18 and a 200 day moving average of $97.93. AbbVie Inc. has a 1 year low of $62.55 and a 1 year high of $113.41.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.87%. AbbVie’s dividend payout ratio (DPR) is presently 58.17%.
In other news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the firm’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 transaction of $2,655,450.00. Following the transaction, the executive vice president now directly owns 76,259 shares in the company, valued at $8,007,195. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 51,990 shares of the firm’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 transaction of $5,458,950.00. Following the transaction, the executive vice president now owns 51,990 shares in the company, valued at $5,458,950. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price target on the stock. BMO Capital Markets assumed coverage on shares of AbbVie in a research report on Wednesday, November 18th. They set an “outperform” rating and a $123.00 price target on the stock. Mizuho increased their price target on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink increased their price target on shares of AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Finally, Morgan Stanley cut their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $114.39.
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 BehÃ§et'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, waldenstrÃ¶m'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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