AbbVie Inc. (NYSE:ABBV) Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,598 shares of the company's stock after purchasing an additional 4,133 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in AbbVie were worth $9,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.19.

AbbVie Trading Up 3.1 %

Shares of ABBV stock traded up $5.59 on Friday, reaching $185.96. 10,477,886 shares of the company's stock were exchanged, compared to its average volume of 6,061,962. The company's fifty day simple moving average is $197.05 and its 200 day simple moving average is $187.28. The stock has a market capitalization of $328.96 billion, a PE ratio of 77.48, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. AbbVie's payout ratio is currently 273.33%.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. Corporate insiders own 0.25% of the company's stock.

AbbVie 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.