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

West Oak Capital LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,546 shares of the company’s stock after acquiring 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 filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABBV shares. Piper Sandler reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Tuesday. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Trading Down 2.6 %

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

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

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.74%. AbbVie’s payout ratio is 183.98%.

AbbVie 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.