West Oak Capital LLC Has $1.70 Million Stock Holdings in AbbVie Inc. $ABBV

West Oak Capital LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,183 shares of the company’s stock after buying an additional 1,050 shares during the quarter. West Oak Capital LLC’s holdings in AbbVie were worth $1,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the second quarter valued at $25,000. TD Capital Management LLC increased its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new stake in AbbVie in the first quarter worth about $30,000. Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new stake in AbbVie in the first quarter worth about $35,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Morgan Stanley lifted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.45.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Up 0.3%

Shares of AbbVie stock opened at $223.09 on Tuesday. The business’s 50 day simple moving average is $203.75 and its 200 day simple moving average is $194.84. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $225.16. The firm has a market cap of $394.09 billion, a PE ratio of 106.23, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

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

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. 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 payout ratio is 312.38%.

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.