Cullen Frost Bankers Inc. trimmed its holdings in AbbVie Inc (NYSE:ABBV) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423,931 shares of the company’s stock after selling 15,414 shares during the period. AbbVie comprises about 1.2% of Cullen Frost Bankers Inc.’s holdings, making the stock its 11th largest position. Cullen Frost Bankers Inc.’s holdings in AbbVie were worth $37,670,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ABBV. First PREMIER Bank lifted its stake in shares of AbbVie by 43.2% in the second quarter. First PREMIER Bank now owns 4,295 shares of the company’s stock valued at $311,000 after buying an additional 1,295 shares in the last quarter. First American Trust FSB lifted its position in shares of AbbVie by 36.9% during the second quarter. First American Trust FSB now owns 4,821 shares of the company’s stock valued at $349,000 after purchasing an additional 1,300 shares in the last quarter. Pioneer Trust Bank N A OR lifted its position in shares of AbbVie by 1.0% during the second quarter. Pioneer Trust Bank N A OR now owns 51,795 shares of the company’s stock valued at $3,756,000 after purchasing an additional 520 shares in the last quarter. American National Bank lifted its position in shares of AbbVie by 61.6% during the second quarter. American National Bank now owns 3,993 shares of the company’s stock valued at $290,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of AbbVie by 10.5% during the second quarter. Handelsbanken Fonder AB now owns 748,841 shares of the company’s stock valued at $54,298,000 after purchasing an additional 71,000 shares in the last quarter. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Vetr lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research report on Monday, January 8th. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group raised their price target on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Thursday. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $100.94.
Shares of AbbVie Inc (NYSE ABBV) opened at $100.34 on Friday. The company has a market cap of $159,950.00, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 12-month low of $59.27 and a 12-month high of $101.28.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. equities analysts forecast that AbbVie Inc will post 5.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.83%. AbbVie’s payout ratio is currently 62.14%.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares in the company, valued at $46,255,740.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,676 shares of company stock worth $47,237,938. Insiders own 0.23% of the company’s stock.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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