SeaCrest Wealth Management LLC Cuts Holdings in AbbVie Inc. (NYSE:ABBV)

SeaCrest Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,384 shares of the company’s stock after selling 1,890 shares during the period. SeaCrest Wealth Management LLC’s holdings in AbbVie were worth $3,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Quest Partners LLC lifted its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. One Capital Management LLC lifted its holdings in shares of AbbVie by 60.9% in the 2nd quarter. One Capital Management LLC now owns 11,976 shares of the company’s stock valued at $2,054,000 after acquiring an additional 4,533 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of AbbVie by 15,176.8% in the 2nd quarter. Wulff Hansen & CO. now owns 475,110 shares of the company’s stock valued at $81,491,000 after acquiring an additional 472,000 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new position in AbbVie in the second quarter worth about $2,337,000. Finally, Lmcg Investments LLC increased its stake in AbbVie by 1.9% during the second quarter. Lmcg Investments LLC now owns 172,051 shares of the company’s stock worth $29,510,000 after acquiring an additional 3,155 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Down 0.7 %

Shares of NYSE ABBV opened at $175.46 on Wednesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock’s fifty day simple moving average is $177.47 and its two-hundred day simple moving average is $184.63. The stock has a market capitalization of $310.06 billion, a PE ratio of 60.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business earned $2.95 EPS. As a group, analysts expect that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.