AbbVie Inc. (NYSE:ABBV) Holdings Cut by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,922 shares of the company’s stock after selling 21,182 shares during the period. AbbVie comprises about 0.9% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 27th biggest holding. Cullen Frost Bankers Inc.’s holdings in AbbVie were worth $67,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GGM Financials LLC raised its holdings in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Carr Financial Group Corp raised its holdings in shares of AbbVie by 1.1% during the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after buying an additional 56 shares during the last quarter. Finally, Wealthstream Advisors Inc. raised its holdings in shares of AbbVie by 3.0% during the third quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after buying an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday. 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. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $211.61 on Thursday. The company’s fifty day moving average is $186.27 and its two-hundred day moving average is $187.31. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $215.66. The company has a market cap of $373.57 billion, a P/E ratio of 88.17, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company earned $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated 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 directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by insiders.

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.