Waycross Partners LLC Sells 5,102 Shares of AbbVie Inc. (NYSE:ABBV)

Waycross Partners LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,647 shares of the company’s stock after selling 5,102 shares during the quarter. AbbVie makes up 3.2% of Waycross Partners LLC’s holdings, making the stock its 9th biggest position. Waycross Partners LLC’s holdings in AbbVie were worth $16,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Massachusetts Financial Services Co. MA lifted its holdings in AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the last quarter. International Assets Investment Management LLC bought a new position in AbbVie during the 4th quarter worth $499,955,000. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AbbVie by 201.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock valued at $332,242,000 after acquiring an additional 1,433,236 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of AbbVie by 34.6% in the third quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock valued at $655,463,000 after acquiring an additional 1,130,638 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Barclays dropped their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. Finally, Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Price Performance

ABBV stock traded up $1.17 during trading on Tuesday, reaching $162.69. 5,479,940 shares of the company were exchanged, compared to its average volume of 5,662,850. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market capitalization of $288.07 billion, a price-to-earnings ratio of 48.28, a P/E/G ratio of 2.03 and a beta of 0.58. The company has a 50-day moving average of $174.01 and a two-hundred day moving average of $161.10.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the company earned $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio 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.