Temasek Holdings Private Ltd Buys 41,093 Shares of AbbVie Inc. (NYSE:ABBV)

Temasek Holdings Private Ltd lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 21.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,498 shares of the company's stock after acquiring an additional 41,093 shares during the period. Temasek Holdings Private Ltd's holdings in AbbVie were worth $46,111,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter worth $28,000. Fairway Wealth LLC purchased a new stake in AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the second quarter worth $27,000. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. increased its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. William Blair upgraded shares of AbbVie to a "strong-buy" rating in a report on Friday, August 30th. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Bank of America upped their target price on AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a report on Thursday. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.38.

AbbVie Price Performance

ABBV stock traded down $0.49 during trading on Friday, hitting $175.68. The company had a trading volume of 2,118,643 shares, compared to its average volume of 5,517,584. The firm has a market capitalization of $310.45 billion, a price-to-earnings ratio of 61.00, a P/E/G ratio of 2.08 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a fifty-two week low of $145.20 and a fifty-two week high of $207.32. The business has a 50 day moving average of $187.14 and a 200 day moving average of $182.17.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.73%. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's payout ratio is presently 215.28%.

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.