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

Aster Capital Management DIFC Ltd lowered its position in AbbVie Inc. (NYSE:ABBV) by 62.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,336 shares of the company’s stock after selling 5,579 shares during the period. Aster Capital Management DIFC Ltd’s holdings in AbbVie were worth $762,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp raised its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after acquiring an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the last quarter. Norges Bank bought a new position in shares of AbbVie in the fourth quarter valued at approximately $5,865,055,000. Finally, Capital Research Global Investors raised its stake in shares of AbbVie by 0.7% in the fourth quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock valued at $5,805,530,000 after acquiring an additional 177,370 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Barclays initiated coverage on AbbVie in a report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price objective on the stock. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Stock Performance

NYSE:ABBV opened at $221.42 on Tuesday. The stock’s fifty day moving average price is $211.30 and its two-hundred day moving average price is $218.93. AbbVie Inc. has a 52-week low of $181.73 and a 52-week high of $244.81. The company has a market cap of $391.20 billion, a price-to-earnings ratio of 109.07, a P/E/G ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Company 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.