AbbVie Inc. (NYSE:ABBV) is Oak Asset Management LLC’s 6th Largest Position

Oak Asset Management LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,547 shares of the company’s stock after selling 2,421 shares during the period. AbbVie makes up 2.8% of Oak Asset Management LLC’s portfolio, making the stock its 6th largest holding. Oak Asset Management LLC’s holdings in AbbVie were worth $7,566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. American National Bank boosted its stake in shares of AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after purchasing an additional 2,695 shares during the period. AXS Investments LLC boosted its stake in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after purchasing an additional 307 shares during the period. TCI Wealth Advisors Inc. boosted its stake in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after purchasing an additional 165 shares during the period. Mizuho Markets Americas LLC boosted its stake in shares of AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after purchasing an additional 7,737 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its stake in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after purchasing an additional 400 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.7 %

NYSE:ABBV opened at $170.37 on Tuesday. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $300.85 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64. The firm has a 50-day simple moving average of $164.60 and a 200-day simple moving average of $167.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Company Profile

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.