Cache Advisors LLC Purchases New Position in AbbVie Inc. $ABBV

Cache Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,354 shares of the company’s stock, valued at approximately $2,252,000. AbbVie makes up approximately 0.3% of Cache Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Chelsea Counsel Co. bought a new stake in AbbVie during the third quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $28,000. Westend Capital Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $29,000. Imprint Wealth LLC lifted its stake in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new position in AbbVie during the 3rd quarter valued at $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research report on Tuesday. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Morgan Stanley upped their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Canaccord Genuity Group increased their price objective on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday. Three investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Price Performance

NYSE:ABBV opened at $234.79 on Thursday. The company has a market capitalization of $414.83 billion, a P/E ratio of 115.66, a P/E/G ratio of 0.72 and a beta of 0.32. The business has a fifty day simple moving average of $213.64 and a two-hundred day simple moving average of $218.83. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations 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 firm earned $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.9%. AbbVie’s dividend payout ratio is 340.89%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie announced European Commission approval of SKYRIZI for pediatric plaque psoriasis, expanding the drug’s addressable market into younger patients and adding a new dosing option. Article Title
• Positive Sentiment: AbbVie also received EU approval for MAVIRET in acute hepatitis C, strengthening an already approved franchise and broadening its use in Europe. Article Title
• Positive Sentiment: AbbVie expanded its pipeline with a new early-stage bretisilocin Phase 1 safety study, signaling continued investment in future growth assets. Article Title
• Neutral Sentiment: Multiple market articles highlighted AbbVie as a potential value/dividend buy and noted analyst price-target support, which may reinforce investor confidence but does not by itself change fundamentals. Article Title
• Neutral Sentiment: Several pieces focused on the broader M&A narrative and the Apogee takeover process, including shareholder scrutiny and investor commentary, which keeps attention on execution risk around the deal. Article Title

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.