TD Private Client Wealth LLC Has $14.88 Million Position in AbbVie Inc. $ABBV

Key Points

• TD Private Client Wealth LLC increased its position in AbbVie Inc. by 1.5% during the 2nd quarter, now holding 80,146 shares valued at approximately $14.88 million.
• Recent insider transactions included EVP Nicholas Donoghoe selling 13,295 shares for about $2.64 million, reducing his ownership by 18.58%.
• AbbVie announced a quarterly dividend of $1.64 per share, representing a 2.9% yield and a payout ratio of 312.38%.

TD Private Client Wealth LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,146 shares of the company's stock after acquiring an additional 1,193 shares during the period. TD Private Client Wealth LLC's holdings in AbbVie were worth $14,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC grew its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after buying an additional 58 shares during the last quarter. Abound Financial LLC bought a new position in AbbVie during the first quarter worth $30,000. Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY bought a new position in AbbVie during the first quarter valued at about $35,000. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Performance

ABBV stock opened at $222.88 on Wednesday. The company has a 50 day moving average price of $204.47 and a 200 day moving average price of $195.04. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $225.16. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock has a market capitalization of $393.74 billion, a PE ratio of 106.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie's payout ratio is 312.38%.

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Evercore ISI upped their price objective on AbbVie from $207.00 to $222.00 and gave the company an "outperform" rating in a research note on Monday. Piper Sandler began coverage on AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price for the company. Finally, Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $223.45.

About AbbVie

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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