Cambient Family Office LLC Takes Position in AbbVie Inc. $ABBV

Cambient Family Office LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 63,625 shares of the company’s stock, valued at approximately $14,538,000. AbbVie accounts for 2.1% of Cambient Family Office LLC’s portfolio, making the stock its 12th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new stake in AbbVie during the 3rd quarter valued at $26,000. Litman Gregory Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $28,000. Imprint Wealth LLC grew its holdings in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares during the period. Westend Capital Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new stake in AbbVie during the fourth quarter valued at $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.1%

ABBV stock opened at $216.63 on Friday. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The stock has a market cap of $382.74 billion, a P/E ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32. The business’s 50-day moving average price is $212.08 and its 200-day moving average price is $218.78.

AbbVie (NYSE:ABBV) last released its earnings results 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. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Barclays started coverage on AbbVie in a research note on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Royal Bank Of Canada initiated coverage on shares of AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

Key Headlines Impacting AbbVie

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

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.