TD Private Client Wealth LLC Has $16.54 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

TD Private Client Wealth LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,953 shares of the company's stock after buying an additional 10,609 shares during the quarter. TD Private Client Wealth LLC's holdings in AbbVie were worth $16,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $32,000. Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter valued at $36,000. Finally, Redwood Park Advisors LLC acquired a new stake in AbbVie during the 4th quarter valued at $40,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABBV shares. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Guggenheim lifted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

AbbVie stock traded up $4.74 on Tuesday, hitting $192.37. The company's stock had a trading volume of 848,305 shares, compared to its average volume of 6,248,376. The firm has a market cap of $339.79 billion, a P/E ratio of 82.07, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a fifty day moving average price of $187.27 and a 200-day moving average price of $188.76. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

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.