AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Oak Asset Management LLC

Oak Asset Management LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,063 shares of the company’s stock after selling 425 shares during the quarter. AbbVie accounts for 2.4% of Oak Asset Management LLC’s holdings, making the stock its 8th largest holding. Oak Asset Management LLC’s holdings in AbbVie were worth $6,586,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. One Capital Management LLC lifted its holdings in AbbVie by 60.9% during the 2nd quarter. One Capital Management LLC now owns 11,976 shares of the company’s stock worth $2,054,000 after purchasing an additional 4,533 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in AbbVie by 15,176.8% during the 2nd quarter. Wulff Hansen & CO. now owns 475,110 shares of the company’s stock worth $81,491,000 after purchasing an additional 472,000 shares in the last quarter. Luts & Greenleigh Group Inc. purchased a new stake in AbbVie during the 2nd quarter worth about $2,337,000. Finally, Lmcg Investments LLC lifted its holdings in AbbVie by 1.9% during the 2nd quarter. Lmcg Investments LLC now owns 172,051 shares of the company’s stock worth $29,510,000 after purchasing an additional 3,155 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial dropped their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company raised their price target on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.50.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV opened at $175.46 on Wednesday. The stock’s 50 day simple moving average is $177.47 and its 200 day simple moving average is $184.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market cap of $310.06 billion, a price-to-earnings ratio of 60.92, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.