Oak Harvest Investment Services Sells 1,042 Shares of AbbVie Inc. (NYSE:ABBV)

Oak Harvest Investment Services decreased its position in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,329 shares of the company’s stock after selling 1,042 shares during the period. AbbVie makes up 1.8% of Oak Harvest Investment Services’ holdings, making the stock its 16th biggest holding. Oak Harvest Investment Services’ holdings in AbbVie were worth $10,440,000 at the end of the most recent quarter.

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

AbbVie Trading Down 1.3 %

Shares of ABBV stock opened at $163.84 on Friday. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. The business’s fifty day moving average is $164.43 and its 200 day moving average is $167.77. 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 company has a market capitalization of $289.32 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. AbbVie’s payout ratio is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Piper Sandler reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $181.07.

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.