Aster Capital Management DIFC Ltd Sells 5,579 Shares of AbbVie Inc. $ABBV

Aster Capital Management DIFC Ltd decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 62.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,336 shares of the company’s stock after selling 5,579 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in AbbVie were worth $762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oddo BHF Asset Management Sas raised its position in shares of AbbVie by 28.2% during the 4th quarter. Oddo BHF Asset Management Sas now owns 57,067 shares of the company’s stock valued at $13,039,000 after acquiring an additional 12,552 shares during the last quarter. Rakuten Investment Management Inc. raised its position in shares of AbbVie by 11.5% during the 4th quarter. Rakuten Investment Management Inc. now owns 232,464 shares of the company’s stock valued at $53,662,000 after acquiring an additional 23,954 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $32,000. 71 West Capital Partners bought a new stake in shares of AbbVie during the 4th quarter valued at $1,760,000. Finally, Alberta Investment Management Corp grew its holdings in shares of AbbVie by 52.6% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $10,808,000 after buying an additional 16,300 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a report on Thursday, April 30th. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, Piper Sandler boosted their price target on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Stock Down 2.8%

Shares of ABBV stock opened at $221.42 on Tuesday. AbbVie Inc. has a 12-month low of $181.73 and a 12-month high of $244.81. The firm has a market capitalization of $391.20 billion, a price-to-earnings ratio of 109.07, a price-to-earnings-growth ratio of 0.70 and a beta of 0.32. The firm has a fifty day moving average of $211.30 and a 200-day moving average of $218.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Research analysts expect that AbbVie Inc. will post 14.3 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.