Sei Investments Co. Raises Position in AbbVie Inc. (ABBV)

Sei Investments Co. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 40.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 507,338 shares of the company’s stock after buying an additional 146,386 shares during the quarter. Sei Investments Co.’s holdings in AbbVie were worth $49,064,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Aspen Investment Management Inc grew its stake in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after purchasing an additional 40 shares during the period. Beaumont Financial Partners LLC grew its stake in AbbVie by 1.0% in the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock valued at $407,000 after acquiring an additional 56 shares during the period. High Falls Advisors Inc grew its stake in AbbVie by 1.4% in the 2nd quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock valued at $317,000 after acquiring an additional 60 shares during the period. Highland Private Wealth Management grew its stake in AbbVie by 2.5% in the 2nd quarter. Highland Private Wealth Management now owns 3,259 shares of the company’s stock valued at $236,000 after acquiring an additional 79 shares during the period. Finally, Jasper Ridge Partners L.P. grew its stake in AbbVie by 1.0% in the 2nd quarter. Jasper Ridge Partners L.P. now owns 9,948 shares of the company’s stock valued at $721,000 after acquiring an additional 96 shares during the period. Institutional investors own 70.57% of the company’s stock.

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In other news, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock worth $24,585,575 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Shares of ABBV stock opened at $93.01 on Friday. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. The firm has a market capitalization of $149,777.61, a price-to-earnings ratio of 16.87, a PEG ratio of 0.91 and a beta of 1.61. AbbVie Inc. has a fifty-two week low of $63.29 and a fifty-two week high of $125.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. sell-side analysts expect that AbbVie Inc. will post 7.55 EPS for the current year.

AbbVie declared that its board has approved a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.96 dividend. The ex-dividend date is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.13%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.

A number of equities research analysts recently issued reports on ABBV shares. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Tuesday, January 2nd. Piper Jaffray reissued a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Jefferies Group lifted their price target on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. Finally, BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $117.85.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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