Platinum Investment Management Ltd. Sells 340,057 Shares of AbbVie Inc. $ABBV

Key Points

• Platinum Investment Management Ltd. sharply reduced its AbbVie stake by 91.9% in the fourth quarter, selling 340,057 shares and leaving it with 30,102 shares worth about $6.88 million.
• Analysts remain broadly positive on AbbVie, with multiple firms reiterating buy or outperform ratings and the consensus rating at Moderate Buy; the average price target is $253.43.
• AbbVie reported solid quarterly results, posting EPS of $2.65 versus estimates of $2.59 and revenue of $15 billion, while investors continue to watch growth drivers like Skyrizi, Rinvoq, and new clinical data for venetoclax.

Platinum Investment Management Ltd. cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 91.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,102 shares of the company's stock after selling 340,057 shares during the period. AbbVie makes up approximately 1.6% of Platinum Investment Management Ltd.'s holdings, making the stock its 12th biggest position. Platinum Investment Management Ltd.'s holdings in AbbVie were worth $6,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. boosted its holdings in AbbVie by 25.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 19,314 shares of the company's stock valued at $4,413,000 after purchasing an additional 3,954 shares during the period. Wealthspire Advisors LLC boosted its holdings in AbbVie by 16.0% in the 4th quarter. Wealthspire Advisors LLC now owns 58,434 shares of the company's stock valued at $13,352,000 after purchasing an additional 8,053 shares during the period. Tillman Hartley LLC boosted its holdings in AbbVie by 3.6% in the 4th quarter. Tillman Hartley LLC now owns 3,496 shares of the company's stock valued at $799,000 after purchasing an additional 121 shares during the period. Allianz SE boosted its holdings in AbbVie by 2.7% in the 4th quarter. Allianz SE now owns 97,245 shares of the company's stock valued at $22,220,000 after purchasing an additional 2,596 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in AbbVie by 5.5% in the 4th quarter. Macquarie Group Ltd. now owns 986,044 shares of the company's stock valued at $224,893,000 after purchasing an additional 51,559 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. Piper Sandler increased 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. William Blair reissued an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. DZ Bank upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada assumed coverage on shares of AbbVie in a research note on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $253.43.

AbbVie Stock Performance

Shares of ABBV stock opened at $227.54 on Friday. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The stock has a market cap of $402.02 billion, a price-to-earnings ratio of 112.09, a P/E/G ratio of 0.69 and a beta of 0.32. The firm has a fifty day moving average of $211.05 and a 200-day moving average of $219.07.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.72 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The business's revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current year.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said nine-year CLL14 data showed venetoclax plus obinutuzumab delivered durable progression-free survival in previously untreated chronic lymphocytic leukemia, strengthening the case for the drug’s long-term commercial value. AbbVie Presents New Data at EHA 2026 Congress for VENCLEXTA®/VENCLYXTO® (venetoclax) in First-Line Chronic Lymphocytic Leukemia Highlighting Long-Term Treatment Outcomes for Patients: Nine-Year Results
• Positive Sentiment: Investors are also focused on AbbVie’s broader pipeline and franchise strength, with commentary pointing to Skyrizi and Rinvoq continuing to drive revenue growth, which supports the company’s outlook beyond legacy Humira. Will Skyrizi & Rinvoq Continue to Drive AbbVie's Topline Through 2026?
• Neutral Sentiment: Several market commentaries described AbbVie as a defensive, high-quality compounder, but noted the shares may not be cheap at current levels, which suggests valuation may temper upside even with strong fundamentals. AbbVie: A Defensive Compounder Worth Holding, But Not A Bargain Buy
• Negative Sentiment: One article highlighted regulatory risk around AbbVie’s fast-acting neurotoxin TrenibotE after an FDA complete response letter, which could delay a potential growth driver if development setbacks persist. FDA Issues Complete Response Letter for AbbVie’s Fast-Acting Neurotoxin TrenibotE; Spokane dermatologist Dr. Philip Werschler on What the Letter Means

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.

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