Synovus Financial Corp Has $28.94 Million Stock Position in AbbVie Inc. $ABBV

Synovus Financial Corp increased its position in AbbVie Inc. (NYSE:ABBV) by 1.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 124,959 shares of the company’s stock after purchasing an additional 2,358 shares during the period. Synovus Financial Corp’s holdings in AbbVie were worth $28,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Evolution Wealth Management Inc. acquired a new position in AbbVie during the second quarter valued at approximately $26,000. Spurstone Advisory Services LLC bought a new stake in AbbVie in the 2nd quarter valued at $28,000. Financial Gravity Companies Inc. acquired a new stake in AbbVie in the 2nd quarter worth $36,000. Delos Wealth Advisors LLC bought a new stake in AbbVie in the 2nd quarter valued at $39,000. Finally, Redmont Wealth Advisors LLC bought a new stake in AbbVie in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $228.79 on Thursday. AbbVie Inc. has a 52 week low of $164.39 and a 52 week high of $244.81. The stock has a market capitalization of $404.36 billion, a price-to-earnings ratio of 96.95, a PEG ratio of 0.81 and a beta of 0.35. The firm has a fifty day moving average of $224.01 and a two-hundred day moving average of $221.68.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.06. AbbVie had a negative return on equity of 4,184.47% and a net margin of 6.91%.The firm had revenue of $16.62 billion for the quarter, compared to analyst estimates of $16.39 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial set a $256.00 target price on AbbVie in a report on Monday, November 3rd. BMO Capital Markets reissued an “outperform” rating and set a $258.00 price target on shares of AbbVie in a report on Thursday, January 15th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the company from $225.00 to $265.00 in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.56.

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.