Temasek Holdings Private Ltd Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Temasek Holdings Private Ltd trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 81.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,473 shares of the company’s stock after selling 191,025 shares during the quarter. Temasek Holdings Private Ltd’s holdings in AbbVie were worth $7,547,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Crestline Management LP increased its stake in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its position in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares during the last quarter. AXA S.A. raised its stake in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Finally, Sky Investment Group LLC lifted its position in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Stock Performance

ABBV stock opened at $184.02 on Friday. The company has a 50-day simple moving average of $191.30 and a 200 day simple moving average of $186.97. The company has a market capitalization of $325.06 billion, a P/E ratio of 76.68, a PEG ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.