Waycross Partners LLC Purchases 4,019 Shares of AbbVie Inc. (NYSE:ABBV)

Waycross Partners LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,004 shares of the company’s stock after acquiring an additional 4,019 shares during the quarter. AbbVie makes up about 3.1% of Waycross Partners LLC’s portfolio, making the stock its 8th biggest holding. Waycross Partners LLC’s holdings in AbbVie were worth $23,990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABBV shares. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Morgan Stanley raised their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Down 0.2 %

NYSE:ABBV opened at $193.00 on Tuesday. The company has a market capitalization of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock has a fifty day simple moving average of $178.93 and a 200-day simple moving average of $186.04.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.