TMB Capital Partners LLC Buys Shares of 13,095 AbbVie Inc. $ABBV

Key Points

• TMB Capital Partners LLC opened a new position in AbbVie during the fourth quarter, buying 13,095 shares valued at about $2.99 million. AbbVie now makes up 1.0% of the fund’s portfolio and is its 24th largest holding.
• AbbVie has seen continued interest from institutional investors, with hedge funds and other firms making new or larger bets on the stock. Overall, institutions own 70.23% of AbbVie shares.
• Analysts remain largely constructive on the name, with a consensus rating of Moderate Buy and an average price target of $253.43. The company also recently posted earnings and revenue that topped estimates and raised its quarterly dividend to $1.73 per share.

TMB Capital Partners LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,095 shares of the company's stock, valued at approximately $2,992,000. AbbVie comprises 1.0% of TMB Capital Partners LLC's investment portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. acquired a new position in AbbVie in the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth $28,000. Imprint Wealth LLC grew its stake 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 purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth $29,000. Finally, IFC & Insurance Marketing Inc. bought a new position in AbbVie during the 4th quarter worth $31,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. Barclays began coverage on AbbVie in a research report on Thursday, February 19th. They issued an "overweight" rating and a $275.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a research note on Monday, June 8th. DZ Bank raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $240.00 target price on shares of AbbVie in a research report on Thursday, April 30th. Finally, William Blair reissued an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

AbbVie Trading Down 2.1%

Shares of AbbVie stock opened at $216.63 on Friday. The business has a 50-day moving average price of $212.08 and a two-hundred day moving average price of $218.78. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The company 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.

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

AbbVie Dividend Announcement

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. This represents a $6.92 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, July 15th. AbbVie's payout ratio is presently 340.89%.

Key Stories 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 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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.