TD Private Client Wealth LLC Purchases 10,609 Shares of AbbVie Inc. (NYSE:ABBV)

TD Private Client Wealth LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,953 shares of the company's stock after purchasing an additional 10,609 shares during the period. TD Private Client Wealth LLC's holdings in AbbVie were worth $16,542,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Siemens Fonds Invest GmbH grew its holdings in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares in the last quarter. Pinney & Scofield Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $36,000. Finally, Redwood Park Advisors LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $40,000. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Finally, Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 0.7%

Shares of ABBV stock opened at $189.50 on Monday. The firm has a 50 day moving average price of $187.37 and a two-hundred day moving average price of $188.68. 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 market capitalization of $334.73 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 EPS 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 company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the firm earned $2.31 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. AbbVie's dividend payout ratio is presently 279.15%.

AbbVie Company 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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