Simmons Bank Has $11.64 Million Stock Holdings in AbbVie Inc. $ABBV

Simmons Bank decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,292 shares of the company’s stock after selling 3,210 shares during the quarter. Simmons Bank’s holdings in AbbVie were worth $11,644,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. Norges Bank acquired a new position in AbbVie in the second quarter valued at about $4,288,200,000. Laurel Wealth Advisors LLC lifted its holdings in shares of AbbVie by 18,384.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,705,964 shares of the company’s stock valued at $1,059,141,000 after purchasing an additional 5,675,095 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AbbVie by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 177,298,707 shares of the company’s stock valued at $32,910,186,000 after purchasing an additional 3,380,842 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in AbbVie by 169.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,722,893 shares of the company’s stock worth $876,662,000 after purchasing an additional 2,969,202 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in AbbVie by 41.8% during the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock worth $1,733,222,000 after buying an additional 2,753,312 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating on shares of AbbVie in a report on Tuesday, January 13th. Piper Sandler reissued an “overweight” rating and issued a $289.00 price target (up previously from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Citigroup cut their price target on AbbVie from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $225.00 to $265.00 in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $251.17.

AbbVie Stock Up 1.2%

NYSE:ABBV opened at $225.76 on Tuesday. The firm has a market capitalization of $399.01 billion, a price-to-earnings ratio of 171.03, a price-to-earnings-growth ratio of 0.92 and a beta of 0.35. AbbVie Inc. has a twelve month low of $164.39 and a twelve month high of $244.81. The stock’s 50 day moving average price is $224.33 and its two-hundred day moving average price is $218.90.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The company had revenue of $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 EPS. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie 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.