West Oak Capital LLC Acquires 150 Shares of AbbVie Inc. (NYSE:ABBV)

West Oak Capital LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,546 shares of the company’s stock after buying an additional 150 shares during the period. West Oak Capital LLC’s holdings in AbbVie were worth $1,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $42,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 2.6 %

Shares of ABBV opened at $165.97 on Wednesday. The firm’s 50-day moving average price is $164.65 and its 200-day moving average price is $167.74. The firm has a market capitalization of $293.08 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 2.19 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1-year low of $132.70 and a 1-year high of $182.89.

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

AbbVie Dividend Announcement

The firm 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. This represents a $6.20 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Piper Sandler restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Two equities research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.07.

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.