TMB Capital Partners LLC Makes New $2.99 Million Investment in AbbVie Inc. $ABBV

TMB Capital Partners LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,095 shares of the company’s stock, valued at approximately $2,992,000. AbbVie makes up about 1.0% of TMB Capital Partners LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Chelsea Counsel Co. bought a new position in AbbVie in the third quarter worth approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC raised its position in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in AbbVie in the 4th quarter valued at $31,000. Institutional investors own 70.23% of the company’s stock.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie declared a quarterly cash dividend of $1.73 per share, reinforcing its shareholder-return profile and highlighting the company’s ability to generate strong cash flow. AbbVie Declares Quarterly Dividend
• Positive Sentiment: AbbVie also got a regulatory boost with new SKINVIVE approval and reported encouraging CLL trial results, which support the company’s oncology and aesthetics growth pipeline. AbbVie (ABBV) Lands New SKINVIVE Approval As CLL Trial Results Impress
• Positive Sentiment: The company presented new Phase 3 data on a venetoclax-based combination and highlighted its late-stage ABBV-400 colorectal cancer program, adding to investor confidence in AbbVie’s long-term pipeline. AbbVie Inc. (ABBV) Presents Data on Fixed-Duration Venetoclax-Based Combination
• Neutral Sentiment: AbbVie has been attracting extra trader attention recently, but the stock’s near-term direction still depends on whether dividend income and pipeline progress can outweigh broader market weakness and legal uncertainty. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest overhang is a reported HHS move to ask a court to dismiss AbbVie’s lawsuit over drug-discount patients, which could increase regulatory and legal pressure on the stock. HHS Asks Court to Toss AbbVie Suit Over Drug Discount Patients

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. William Blair restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price objective on shares of AbbVie in a report on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Morgan Stanley raised their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Trading Down 2.1%

NYSE ABBV opened at $216.63 on Friday. The business has a fifty day simple moving average of $212.08 and a 200 day simple moving average of $218.78. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The firm has a market capitalization of $382.74 billion, a P/E ratio of 106.71, a PEG ratio of 0.68 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 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 firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

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.