TD Asset Management Inc. grew its holdings in AbbVie Inc (NYSE:ABBV) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 625,378 shares of the company’s stock after buying an additional 6,931 shares during the quarter. TD Asset Management Inc.’s holdings in AbbVie were worth $45,477,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC bought a new position in AbbVie during the fourth quarter worth about $27,000. Weaver Consulting Group acquired a new position in shares of AbbVie during the 1st quarter worth $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie during the 2nd quarter worth $28,000. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth $33,000. Finally, Capital Financial Planning LLC acquired a new position in shares of AbbVie during the 4th quarter worth $41,000. Institutional investors own 68.15% of the company’s stock.
In other news, Director Roxanne S. Austin bought 55,000 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $65.86 per share, with a total value of $3,622,300.00. Following the acquisition, the director now directly owns 92,114 shares in the company, valued at $6,066,628.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin bought 10,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was purchased at an average cost of $66.35 per share, with a total value of $663,500.00. Following the acquisition, the director now owns 62,114 shares in the company, valued at $4,121,263.90. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 136,900 shares of company stock valued at $9,126,370. Insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc will post 8.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.72%. AbbVie’s payout ratio is presently 54.11%.
A number of equities analysts have recently commented on the company. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $71.00 to $79.00 in a report on Sunday, April 28th. Piper Jaffray Companies set a $80.00 price target on AbbVie and gave the stock a “hold” rating in a report on Friday, July 26th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a report on Wednesday, June 26th. Goldman Sachs Group assumed coverage on AbbVie in a report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price target for the company. Finally, Leerink Swann raised AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $92.05.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
Read More: What is net income?
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.