Waterloo Capital L.P. Purchases 307 Shares of AbbVie Inc. (NYSE:ABBV)

Waterloo Capital L.P. grew its position in AbbVie Inc. (NYSE:ABBV) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,375 shares of the company’s stock after purchasing an additional 307 shares during the quarter. Waterloo Capital L.P.’s holdings in AbbVie were worth $2,732,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ABBV. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $29,000. Promus Capital LLC bought a new position in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $35,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 7.5 %

Shares of ABBV opened at $186.58 on Friday. The stock’s 50-day moving average price is $200.61 and its two-hundred day moving average price is $189.21. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $330.06 billion, a PE ratio of 77.74, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

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 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.52%. AbbVie’s payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Morgan Stanley boosted their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.