Toronto Dominion Bank boosted its stake in AbbVie Inc (NYSE:ABBV) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,937 shares of the company’s stock after buying an additional 85,876 shares during the period. Toronto Dominion Bank’s holdings in AbbVie were worth $42,774,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Formidable Asset Management LLC grew its stake in shares of AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC grew its stake in shares of AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC grew its stake in shares of AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares in the last quarter. St. Louis Trust Co grew its stake in shares of AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its stake in shares of AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares in the last quarter. 69.32% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on ABBV shares. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Jefferies Group reaffirmed a “buy” rating and set a $94.00 target price on shares of AbbVie in a research note on Friday, September 8th. Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Cowen reaffirmed a “hold” rating and set a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, September 12th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $97.96.
Shares of AbbVie Inc (NYSE:ABBV) opened at $96.30 on Friday. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $98.87. The company has a market capitalization of $155,412.45, a price-to-earnings ratio of 18.33, a PEG ratio of 1.35 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the business posted $1.21 earnings per share. AbbVie’s revenue was up 8.8% compared to the same quarter last year. sell-side analysts anticipate that AbbVie Inc will post 5.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 62.29%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,825 shares of company stock valued at $25,186,090. Company insiders own 0.23% of the company’s stock.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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