West Oak Capital LLC Has $1.70 Million Stake in AbbVie Inc. (NYSE:ABBV)

West Oak Capital LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,133 shares of the company’s stock after selling 550 shares during the period. West Oak Capital LLC’s holdings in AbbVie were worth $1,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in shares of AbbVie during the 4th quarter worth approximately $309,000. Capital & Planning LLC increased its position in shares of AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after acquiring an additional 105 shares during the last quarter. LaFleur & Godfrey LLC boosted its position in AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares during the last quarter. Brighton Jones LLC boosted its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Bank of America upped their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $191.27 on Thursday. The stock has a market cap of $337.86 billion, a price-to-earnings ratio of 79.70, a PEG ratio of 1.62 and a beta of 0.50. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a 50-day simple moving average of $183.78 and a 200 day simple moving average of $187.32. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the prior year, the business earned $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.