West Oak Capital LLC Sells 550 Shares of AbbVie Inc. (NYSE:ABBV)

West Oak Capital LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,763 shares of the company’s stock after selling 550 shares during the quarter. West Oak Capital LLC’s holdings in AbbVie were worth $1,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castle Financial & Retirement Planning Associates Inc. bought a new position in AbbVie in the fourth quarter valued at $25,000. Intelligent Financial Strategies bought a new position in shares of AbbVie during the 4th quarter valued at about $27,000. Psagot Value Holdings Ltd. Israel increased its position in shares of AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after purchasing an additional 3,300 shares during the last quarter. GoalVest Advisory LLC bought a new stake in AbbVie in the 1st quarter worth approximately $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in AbbVie in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $144.06 on Monday. The firm has a market cap of $254.71 billion, a P/E ratio of 20.41, a P/E/G ratio of 4.04 and a beta of 0.72. AbbVie Inc. has a fifty-two week low of $105.56 and a fifty-two week high of $175.91. The business’s 50 day moving average price is $142.80 and its 200-day moving average price is $149.78. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $3.11 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.92%. AbbVie’s dividend payout ratio is presently 79.89%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABBV shares. UBS Group decreased their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Barclays lowered their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. SVB Leerink began coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective on the stock. Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Finally, Piper Sandler reduced their price target on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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