SilverOak Wealth Management LLC Purchases 87 Shares of AbbVie Inc. $ABBV

SilverOak Wealth Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 8.1% during the second quarter, HoldingsChannel.com reports. The firm owned 1,161 shares of the company’s stock after buying an additional 87 shares during the quarter. SilverOak Wealth Management LLC’s holdings in AbbVie were worth $216,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABBV. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. increased its position in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $226.77 on Friday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The stock’s 50 day moving average is $217.28 and its 200-day moving average is $197.43. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $400.60 billion, a price-to-earnings ratio of 107.99, a PEG ratio of 1.41 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the company posted $2.65 EPS. AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio is presently 312.38%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Wall Street Zen downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group set a $251.00 target price on AbbVie in a research report on Friday, October 3rd. Finally, Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $233.35.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.