TD Asset Management Inc Has $950.64 Million Stock Holdings in AbbVie Inc. $ABBV

TD Asset Management Inc lessened its stake in AbbVie Inc. (NYSE:ABBV) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,160,516 shares of the company’s stock after selling 97,811 shares during the quarter. AbbVie accounts for about 0.8% of TD Asset Management Inc’s holdings, making the stock its 29th biggest position. TD Asset Management Inc’s holdings in AbbVie were worth $950,636,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in AbbVie in the 3rd quarter valued at approximately $26,000. Westend Capital Management LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new position in AbbVie in the 3rd quarter valued at approximately $31,000. Legacy Wealth Managment LLC ID increased its stake in AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares during the period. Finally, WestEnd Advisors LLC increased its stake in AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The UK drug-cost watchdog recommended AbbVie’s ovarian cancer therapy Elahere for patients with a hard-to-treat form of ovarian cancer, boosting the drug’s commercial prospects in a key market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie won EU approval for AQUIPTA (atogepant) as an acute treatment for migraine in adults, adding a second approved migraine indication and expanding the drug’s revenue opportunity. AbbVie Gets EU Nod for Aquipta as Acute Treatment for Migraine
• Positive Sentiment: The European Commission also authorized an expanded label for VENCLYXTO, which could broaden use in combination therapies and support oncology sales. AbbVie Inc. (ABBV) Announces EC Authorization of Expanded Label for VENCLYXTO®
• Positive Sentiment: AbbVie’s update on a Japan safety study for RINVOQ drew attention to ongoing development and post-market monitoring, though the details appear to be part of routine clinical follow-up rather than a major catalyst. AbbVie’s RINVOQ Safety Study In Japan
• Neutral Sentiment: AbbVie also said it will present at the Goldman Sachs healthcare conference next week, which usually keeps investors focused on management commentary but is not a direct business update. AbbVie to Present at the Goldman Sachs 47th Annual Global Healthcare Conference

AbbVie Stock Up 0.9%

Shares of ABBV opened at $217.24 on Thursday. The company’s fifty day moving average is $209.03 and its 200-day moving average is $219.35. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81. The firm has a market cap of $383.82 billion, a price-to-earnings ratio of 107.02, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price target on shares of AbbVie in a research note on Thursday, April 30th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada began coverage on shares of AbbVie in a research note on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.