SeaBridge Investment Advisors LLC Holds Stake in AbbVie Inc. (ABBV)

SeaBridge Investment Advisors LLC maintained its stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,600 shares of the company’s stock at the end of the second quarter. SeaBridge Investment Advisors LLC’s holdings in AbbVie were worth $189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Command Financial Services Inc. lifted its stake in AbbVie by 6.8% in the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after purchasing an additional 99 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie in the 1st quarter valued at about $108,000. Atwood & Palmer Inc. lifted its stake in AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares during the last quarter. Institutional investors own 68.25% of the company’s stock.

ABBV has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective for the company in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Finally, Cowen and Company restated a “hold” rating and set a $95.00 price objective (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $82.38.

Shares of AbbVie Inc. (ABBV) opened at 87.48 on Friday. The company has a market cap of $139.45 billion, a PE ratio of 21.52 and a beta of 1.48. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69. The firm’s 50 day moving average is $75.76 and its 200-day moving average is $69.87.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is presently 62.90%.

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In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the transaction, the chairman now directly owns 469,623 shares in the company, valued at $33,343,233. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 373,191 shares of company stock worth $26,598,305. Company insiders own 0.23% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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