West Oak Capital LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,724 shares of the company’s stock after selling 270 shares during the period. West Oak Capital LLC’s holdings in AbbVie were worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bollard Group LLC raised its holdings in shares of AbbVie by 0.5% during the 1st quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after acquiring an additional 20 shares during the period. TRUE Private Wealth Advisors raised its holdings in AbbVie by 0.5% in the 1st quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock valued at $313,000 after buying an additional 24 shares during the period. St. Louis Trust Co raised its holdings in AbbVie by 0.7% in the 1st quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after buying an additional 25 shares during the period. Stratford Consulting LLC raised its holdings in AbbVie by 0.7% in the 1st quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after buying an additional 29 shares during the period. Finally, K.J. Harrison & Partners Inc raised its holdings in AbbVie by 0.6% in the 1st quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock valued at $328,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 68.29% of the company’s stock.
Several brokerages recently issued reports on ABBV. Deutsche Bank AG restated a “hold” rating and issued a $66.00 price objective (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective on the stock in a report on Wednesday, July 26th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $94.00 price objective (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. AbbVie currently has an average rating of “Buy” and a consensus price target of $82.38.
AbbVie Inc. (NYSE ABBV) traded down 2.35% during trading on Friday, reaching $87.12. The company’s stock had a trading volume of 8,517,294 shares. The company has a market capitalization of $138.88 billion, a P/E ratio of 21.43 and a beta of 1.48. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69. The company’s 50-day moving average is $74.42 and its 200-day moving average is $69.26.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Equities analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.87%. AbbVie’s dividend payout ratio (DPR) is 62.90%.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the sale, the chairman now owns 469,623 shares of the company’s stock, valued at approximately $33,343,233. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 373,191 shares of company stock worth $26,598,305. Company insiders own 0.23% of the company’s stock.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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