Cambient Family Office LLC Purchases New Shares in AbbVie Inc. $ABBV

Cambient Family Office LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 63,625 shares of the company’s stock, valued at approximately $14,538,000. AbbVie accounts for about 2.1% of Cambient Family Office LLC’s investment portfolio, making the stock its 12th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth about $28,000. Westend Capital Management LLC bought a new position in AbbVie in the fourth quarter worth about $29,000. Imprint Wealth LLC lifted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX purchased a new stake in AbbVie in the third quarter worth about $31,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV opened at $216.63 on Friday. The firm has a market cap of $382.74 billion, a P/E ratio of 106.71, a P/E/G ratio of 0.68 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The firm has a 50-day simple moving average of $212.08 and a two-hundred day simple moving average of $218.78.

AbbVie (NYSE:ABBV) last posted 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 net margin of 5.79% and a negative return on equity of 576.45%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

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

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 target price on shares of AbbVie in a report on Thursday, April 30th. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Evercore set a $235.00 price objective on AbbVie in a report on Friday, May 15th. Three 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. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $253.43.

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

About AbbVie

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.