Synovus Financial Corp Has $21.71 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Synovus Financial Corp lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,143 shares of the company's stock after selling 7,541 shares during the quarter. Synovus Financial Corp's holdings in AbbVie were worth $21,707,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Quantbot Technologies LP boosted its holdings in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Sky Investment Group LLC increased its holdings in shares of AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after acquiring an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company's stock valued at $4,523,000 after acquiring an additional 3,654 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABBV. Guggenheim reiterated a "buy" rating and set a $214.00 price target on shares of AbbVie in a report on Thursday. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.71.

AbbVie Trading Up 0.6 %

Shares of ABBV traded up $1.10 on Thursday, reaching $172.78. 8,474,425 shares of the company's stock were exchanged, compared to its average volume of 5,992,649. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock has a market capitalization of $305.64 billion, a P/E ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business has a 50 day moving average price of $199.21 and a two-hundred day moving average price of $188.16.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the business earned $2.79 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 3.80%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is 273.33%.

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.