Moody National Bank Trust Division Has $3.55 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Moody National Bank Trust Division lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,473 shares of the company’s stock after buying an additional 1,480 shares during the period. Moody National Bank Trust Division’s holdings in AbbVie were worth $3,546,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cullen Investment Group LTD. raised its holdings in AbbVie by 2.4% in the 1st quarter. Cullen Investment Group LTD. now owns 13,598 shares of the company’s stock valued at $2,457,000 after buying an additional 317 shares during the last quarter. Moseley Investment Management Inc. increased its position in AbbVie by 0.9% in the 1st quarter. Moseley Investment Management Inc. now owns 7,573 shares of the company’s stock valued at $1,379,000 after acquiring an additional 71 shares during the period. Duncan Williams Asset Management LLC bought a new position in shares of AbbVie during the first quarter valued at $325,000. ST Germain D J Co. Inc. lifted its holdings in shares of AbbVie by 0.5% during the first quarter. ST Germain D J Co. Inc. now owns 67,562 shares of the company’s stock worth $12,303,000 after purchasing an additional 340 shares during the period. Finally, Modus Advisors LLC grew its stake in shares of AbbVie by 2.0% in the first quarter. Modus Advisors LLC now owns 23,159 shares of the company’s stock worth $4,217,000 after purchasing an additional 450 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ABBV shares. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Piper Sandler upped their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price target for the company. Finally, BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Performance

Shares of AbbVie stock traded up $1.68 during trading hours on Wednesday, reaching $171.36. The company had a trading volume of 4,250,883 shares, compared to its average volume of 4,866,948. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market cap of $302.60 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60. The business has a fifty day simple moving average of $163.58 and a 200 day simple moving average of $166.38.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm earned $2.46 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

About AbbVie

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.