Mubadala Investment Co PJSC Acquires 2,063 Shares of AbbVie Inc. $ABBV

Key Points

• Mubadala Investment Co PJSC increased its stake in AbbVie Inc. by 10.4%, holding 21,848 shares valued at approximately $4.58 million, making it the company's 10th largest position.
• Several other institutional investors also boosted their holdings in AbbVie, with Crestline Management LP increasing theirs by 438.4% during the last quarter.
• AbbVie recently reported earnings of $2.97 EPS, missing analysts' expectations, and declared a quarterly dividend of $1.64 per share, representing an annualized yield of 3.1%.

Mubadala Investment Co PJSC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,848 shares of the company's stock after purchasing an additional 2,063 shares during the period. AbbVie makes up about 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 10th largest holding. Mubadala Investment Co PJSC's holdings in AbbVie were worth $4,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TD Capital Management LLC lifted its stake in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter worth approximately $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie during the first quarter worth about $35,000. Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

AbbVie Trading Up 0.6%

NYSE:ABBV traded up $1.23 during midday trading on Tuesday, reaching $211.63. 4,216,752 shares of the stock traded hands, compared to its average volume of 6,554,623. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market capitalization of $373.86 billion, a P/E ratio of 100.78, a PEG ratio of 1.35 and a beta of 0.53. The company has a fifty day moving average of $195.58 and a 200 day moving average of $193.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.1%. AbbVie's payout ratio is presently 312.38%.

Analyst Ratings Changes

Several analysts have weighed in on ABBV shares. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Piper Sandler initiated coverage on AbbVie in a report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target for the company. Finally, Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Four 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 company. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $214.95.

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.