AbbVie Inc. (NYSE:ABBV) Shares Sold by Seascape Capital Management

Seascape Capital Management cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,073 shares of the company’s stock after selling 471 shares during the period. AbbVie makes up approximately 2.0% of Seascape Capital Management’s holdings, making the stock its 9th biggest position. Seascape Capital Management’s holdings in AbbVie were worth $5,672,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. lifted its position in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after buying an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC grew its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its stake in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $4,459,385,000. Finally, Northern Trust Corp boosted its holdings in AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7%

Shares of NYSE ABBV opened at $189.50 on Friday. The stock has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a twelve month low of $163.63 and a twelve month high of $218.66. The company’s fifty day moving average is $187.37 and its 200-day moving average is $188.46. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the firm posted $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.46%. AbbVie’s payout ratio is currently 279.15%.

Analyst Ratings Changes

A number of analysts have weighed in on ABBV shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Finally, Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $211.29.

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.