Silver Oak Securities Incorporated Buys 521 Shares of AbbVie Inc. (NYSE:ABBV)

Silver Oak Securities Incorporated boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,987 shares of the company’s stock after purchasing an additional 521 shares during the period. Silver Oak Securities Incorporated’s holdings in AbbVie were worth $777,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABBV. FCG Investment Co purchased a new stake in AbbVie during the 1st quarter worth approximately $1,413,000. BluePath Capital Management LLC lifted its stake in shares of AbbVie by 0.9% in the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after purchasing an additional 67 shares during the period. Palisade Asset Management LLC lifted its stake in shares of AbbVie by 65.6% in the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock valued at $17,726,000 after purchasing an additional 38,562 shares during the period. First Hawaiian Bank lifted its stake in shares of AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. Finally, PGGM Investments lifted its stake in shares of AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ABBV shares. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Citigroup increased their target price on shares of AbbVie from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.39.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.0 %

Shares of NYSE:ABBV opened at $187.81 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The stock has a market capitalization of $331.64 billion, a P/E ratio of 55.73, a PEG ratio of 2.66 and a beta of 0.63. The stock has a 50-day simple moving average of $194.14 and a 200-day simple moving average of $178.16.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. Equities analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.