AbbVie Inc. (NYSE:ABBV) Shares Purchased by Seelaus Asset Management LLC

Posted by Defense World Staff on Jul 3rd, 2023

Seelaus Asset Management LLC grew its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,257 shares of the company’s stock after buying an additional 557 shares during the period. Seelaus Asset Management LLC’s holdings in AbbVie were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Red Tortoise LLC purchased a new stake in AbbVie in the 4th quarter valued at $27,000. Boulder Wealth Advisors LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. My Personal CFO LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $32,000. Align Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at about $27,000. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after acquiring an additional 93 shares during the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABBV shares. StockNews.com started coverage on AbbVie in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Wells Fargo & Company lowered their target price on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Morgan Stanley boosted their price target on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Barclays lifted their price objective on AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Finally, Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insider Activity at AbbVie

In related news, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the transaction, the senior vice president now owns 35,330 shares of the company’s stock, valued at approximately $5,711,801.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the transaction, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,711,801.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Elaine K. Sorg sold 6,130 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now owns 35,330 shares in the company, valued at approximately $5,829,450. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

AbbVie Trading Up 1.1 %

NYSE:ABBV opened at $134.73 on Monday. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $168.11. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46. The stock has a fifty day simple moving average of $142.20 and a 200-day simple moving average of $150.86. The company has a market capitalization of $237.70 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.58.

AbbVie (NYSE:ABBV – Free Report) last released its quarterly earnings results on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 10.99 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $5.92 annualized dividend and a dividend yield of 4.39%. AbbVie’s dividend payout ratio is currently 139.95%.

AbbVie Company Profile

(Free Report)

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