Cullen Frost Bankers Inc. Has $37.67 Million Holdings in AbbVie Inc (NYSE:ABBV)

Cullen Frost Bankers Inc. decreased its position in AbbVie Inc (NYSE:ABBV) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 423,931 shares of the company’s stock after selling 15,414 shares during the quarter. AbbVie accounts for 1.2% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 11th biggest holding. Cullen Frost Bankers Inc.’s holdings in AbbVie were worth $37,670,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. Janus Henderson Group PLC boosted its holdings in AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after acquiring an additional 3,646,510 shares during the period. Orbis Allan Gray Ltd boosted its holdings in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares during the period. Capital Research Global Investors boosted its holdings in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Finally, BlackRock Inc. boosted its holdings in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares during the period. 69.28% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 476,376 shares of company stock valued at $45,580,873 in the last three months. Insiders own 0.23% of the company’s stock.

A number of equities research analysts have weighed in on ABBV shares. Cowen raised AbbVie from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $91.17 to $105.00 in a research report on Wednesday, October 11th. UBS Group reissued a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Barclays boosted their price target on AbbVie to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group boosted their price target on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $117.26.

Shares of AbbVie Inc (NYSE ABBV) traded down $1.11 on Friday, hitting $115.17. The stock had a trading volume of 7,180,000 shares, compared to its average volume of 5,950,000. The stock has a market capitalization of $183,590.00, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 1 year low of $60.05 and a 1 year high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. equities research analysts expect that AbbVie Inc will post 7.46 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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