Mubadala Investment Co PJSC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Mubadala Investment Co PJSC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,785 shares of the company's stock, valued at approximately $3,516,000. AbbVie makes up about 0.0% of Mubadala Investment Co PJSC's holdings, making the stock its 28th biggest position.

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

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. The trade was a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 2.3%

AbbVie stock traded up $4.08 during mid-day trading on Thursday, hitting $181.52. 12,067,887 shares of the company's stock were exchanged, compared to its average volume of 6,232,171. The company's 50 day simple moving average is $192.59 and its 200-day simple moving average is $187.16. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $321.10 billion, a P/E ratio of 75.63, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. AbbVie's revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, UBS Group raised their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $210.95.

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.