Cache Advisors LLC Takes $2.25 Million Position in AbbVie Inc. $ABBV

Key Points

• Cache Advisors LLC disclosed a new first-quarter stake in AbbVie, buying 10,354 shares valued at about $2.25 million. The position now represents 0.3% of the firm’s portfolio and its 27th-largest holding.
• AbbVie recently reported stronger-than-expected quarterly results, with EPS of $2.65 versus estimates of $2.59 and revenue of $15 billion versus expectations of $14.72 billion. Revenue rose 12.4% year over year.
• The company also announced a quarterly dividend of $1.73 per share, equal to an annualized payout of $6.92 and a yield of 2.9%. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $253.81.

Cache Advisors LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,354 shares of the company's stock, valued at approximately $2,252,000. AbbVie makes up 0.3% of Cache Advisors LLC's portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chelsea Counsel Co. bought a new stake in shares of AbbVie during the third quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $28,000. Westend Capital Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $29,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after buying an additional 45 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new stake in AbbVie during the 3rd quarter worth approximately $31,000. Institutional investors own 70.23% of the company's stock.

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 Price Performance

Shares of ABBV opened at $234.79 on Thursday. The stock has a 50-day moving average of $213.64 and a 200-day moving average of $218.83. The company has a market cap of $414.83 billion, a PE ratio of 115.66, a P/E/G ratio of 0.72 and a beta of 0.32. AbbVie Inc. has a one year low of $181.73 and a one year high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. Analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio is presently 340.89%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABBV shares. BMO Capital Markets reissued an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. William Blair reiterated an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Morgan Stanley increased their price objective on AbbVie from $270.00 to $278.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of AbbVie in a research report on Tuesday. Finally, Wells Fargo & Company set a $260.00 target price on AbbVie in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $253.81.

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.

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