TD Private Client Wealth LLC Has $13.91 Million Stake in AbbVie Inc. (NYSE:ABBV)

TD Private Client Wealth LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,411 shares of the company’s stock after selling 312 shares during the period. TD Private Client Wealth LLC’s holdings in AbbVie were worth $13,905,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $27,000. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter worth about $28,000. Finally, Quest Partners LLC lifted its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $175.76 on Wednesday. The stock has a market cap of $310.59 billion, a P/E ratio of 61.03, a P/E/G ratio of 2.01 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50 day moving average price is $186.35 and its two-hundred day moving average price is $182.67. AbbVie Inc. has a 52 week low of $150.16 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. On average, equities analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.73%. AbbVie’s payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler lifted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.19.

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.