Cullen Frost Bankers Inc. Sells 14,047 Shares of AbbVie Inc. $ABBV

Cullen Frost Bankers Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 382,178 shares of the company’s stock after selling 14,047 shares during the quarter. AbbVie makes up about 1.0% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 23rd biggest holding. Cullen Frost Bankers Inc.’s holdings in AbbVie were worth $88,489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Whittier Trust Co. of Nevada Inc. raised its stake in shares of AbbVie by 1.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 104,375 shares of the company’s stock worth $24,414,000 after buying an additional 1,870 shares during the last quarter. CIBC Asset Management Inc boosted its stake in AbbVie by 0.8% during the 3rd quarter. CIBC Asset Management Inc now owns 320,907 shares of the company’s stock worth $74,299,000 after acquiring an additional 2,466 shares during the last quarter. TFR Capital LLC. grew its holdings in AbbVie by 5.3% during the third quarter. TFR Capital LLC. now owns 16,399 shares of the company’s stock valued at $3,797,000 after purchasing an additional 825 shares during the period. BLB&B Advisors LLC increased its stake in AbbVie by 0.3% in the third quarter. BLB&B Advisors LLC now owns 87,556 shares of the company’s stock valued at $20,273,000 after purchasing an additional 269 shares in the last quarter. Finally, Sagespring Wealth Partners LLC raised its holdings in AbbVie by 12.4% in the third quarter. Sagespring Wealth Partners LLC now owns 38,051 shares of the company’s stock worth $8,810,000 after purchasing an additional 4,192 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $219.21 on Friday. The stock has a market capitalization of $387.42 billion, a P/E ratio of 166.07, a P/E/G ratio of 0.90 and a beta of 0.36. AbbVie Inc. has a fifty-two week low of $164.39 and a fifty-two week high of $244.81. The business has a 50-day moving average of $225.60 and a 200-day moving average of $217.41.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.AbbVie’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be given a $1.73 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s payout ratio is presently 524.24%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABBV. Hsbc Global Res raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Morgan Stanley raised their price target on AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $265.00 in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.11.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.