Tema Etfs LLC Invests $2.85 Million in AbbVie Inc. $ABBV

Key Points

• Tema Etfs LLC invested approximately **$2.85 million** in AbbVie Inc. by acquiring **13,592 shares** in the first quarter, marking a significant institutional interest in the company.
• Despite reporting **earnings per share** of **$2.97**, AbbVie fell short of analysts' expectations, as the company's recent quarterly earnings were lower than projected.

Tema Etfs LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,592 shares of the company's stock, valued at approximately $2,848,000.

Other institutional investors have also bought and sold shares of the company. Private Management Group Inc. grew its stake in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after buying an additional 54 shares in the last quarter. Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC raised its position in AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after purchasing an additional 57 shares during the period. High Falls Advisors Inc raised its position in AbbVie by 3.2% in the 1st quarter. High Falls Advisors Inc now owns 1,863 shares of the company's stock worth $390,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. raised its position in AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after purchasing an additional 58 shares during the period. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective on the stock in a research report on Thursday, August 7th. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Guggenheim upped their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Five 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $214.95.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.1%

ABBV stock opened at $208.24 on Thursday. The firm has a 50 day moving average of $194.10 and a 200 day moving average of $193.29. The stock has a market capitalization of $367.87 billion, a PE ratio of 99.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. The business's quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's payout ratio is 312.38%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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