Thomasville National Bank Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Thomasville National Bank trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,073 shares of the company’s stock after selling 202 shares during the quarter. Thomasville National Bank’s holdings in AbbVie were worth $5,658,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in AbbVie in the fourth quarter worth $3,229,888,000. International Assets Investment Management LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $499,955,000. Capital International Investors raised its stake in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after acquiring an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after purchasing an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $172.13 on Friday. The firm has a market capitalization of $303.96 billion, a P/E ratio of 51.08, a P/E/G ratio of 2.19 and a beta of 0.60. The stock has a fifty day moving average price of $163.72 and a two-hundred day moving average price of $166.45. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the subject of several research reports. Piper Sandler raised their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Finally, Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie 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.