Seaview Investment Managers LLC Acquires Shares of 34,517 AbbVie Inc. $ABBV

Seaview Investment Managers LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, Holdings Channel reports. The institutional investor bought 34,517 shares of the company’s stock, valued at approximately $7,887,000. AbbVie makes up approximately 3.0% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Shields & Co. LLC raised its position in shares of AbbVie by 4.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 30,817 shares of the company’s stock valued at $7,041,000 after buying an additional 1,375 shares in the last quarter. Diversified Portfolios Inc. increased its position in AbbVie by 10.2% during the 4th quarter. Diversified Portfolios Inc. now owns 5,694 shares of the company’s stock worth $1,301,000 after purchasing an additional 525 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in AbbVie by 10.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,131 shares of the company’s stock worth $258,000 after purchasing an additional 111 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in AbbVie by 39.9% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 410 shares of the company’s stock worth $94,000 after purchasing an additional 117 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in AbbVie by 576.7% during the 4th quarter. Harbour Investments Inc. now owns 172,035 shares of the company’s stock worth $39,308,000 after purchasing an additional 146,611 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

AbbVie Trading Up 0.1%

ABBV opened at $216.02 on Tuesday. The company’s fifty day moving average price is $208.53 and its two-hundred day moving average price is $219.73. AbbVie Inc. has a 1-year low of $181.71 and a 1-year high of $244.81. The company 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 released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ABBV shares. Evercore set a $235.00 price objective on shares of AbbVie in a research report on Friday, May 15th. Canaccord Genuity Group upped their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report 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 for the company in a research report on Thursday, February 5th. Piper Sandler upped their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Barclays assumed coverage on shares of AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.43.

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.