TD Asset Management Inc. Sells 55,811 Shares of AbbVie Inc (ABBV)

TD Asset Management Inc. cut its holdings in shares of AbbVie Inc (NYSE:ABBV) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,800,591 shares of the company’s stock after selling 55,811 shares during the quarter. TD Asset Management Inc. owned about 0.18% of AbbVie worth $248,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Bristlecone Advisors LLC acquired a new stake in shares of AbbVie in the third quarter valued at about $113,000. Ffcm LLC grew its stake in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC grew its stake in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares in the last quarter. Hershey Trust Co. acquired a new stake in AbbVie during the 3rd quarter valued at approximately $139,000. Finally, BDO Wealth Advisors LLC acquired a new stake in AbbVie during the 2nd quarter valued at approximately $115,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.

Shares of AbbVie Inc (NYSE:ABBV) traded up $2.82 during midday trading on Friday, hitting $111.30. The company had a trading volume of 8,845,503 shares, compared to its average volume of 7,190,000. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The firm has a market cap of $177,420.00, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.61. AbbVie Inc has a twelve month low of $60.15 and a twelve month high of $125.86.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. sell-side analysts expect that AbbVie Inc will post 7.46 EPS for the current year.

A number of equities research analysts have weighed in on ABBV shares. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, October 17th. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price target on the stock in a report on Wednesday, December 20th. Credit Suisse Group set a $98.00 price target on AbbVie and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets restated a “hold” rating and issued a $84.00 target price on shares of AbbVie in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and an average price target of $117.26.

In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,743 shares of company stock valued at $43,153,684. Insiders own 0.23% of the company’s stock.

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About AbbVie

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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