British Airways Pensions Investment Management Ltd Increases Position in AbbVie Inc (ABBV)

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British Airways Pensions Investment Management Ltd boosted its position in AbbVie Inc (NYSE:ABBV) by 0.8% during the second quarter, HoldingsChannel.com reports. The fund owned 102,590 shares of the company’s stock after buying an additional 840 shares during the quarter. British Airways Pensions Investment Management Ltd’s holdings in AbbVie were worth $9,505,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Chicago Equity Partners LLC grew its holdings in AbbVie by 42.0% during the 2nd quarter. Chicago Equity Partners LLC now owns 228,065 shares of the company’s stock valued at $21,130,000 after buying an additional 67,490 shares in the last quarter. Janus Henderson Group PLC grew its holdings in AbbVie by 15.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after buying an additional 717,452 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in AbbVie by 1.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 203,657 shares of the company’s stock valued at $18,869,000 after buying an additional 3,114 shares in the last quarter. Hartline Investment Corp grew its holdings in AbbVie by 11.0% during the 2nd quarter. Hartline Investment Corp now owns 9,356 shares of the company’s stock valued at $867,000 after buying an additional 927 shares in the last quarter. Finally, Buckingham Capital Management Inc. grew its holdings in AbbVie by 25.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 50,039 shares of the company’s stock valued at $4,636,000 after buying an additional 10,032 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

A number of research analysts have weighed in on ABBV shares. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Bank of America reduced their target price on AbbVie from $112.00 to $105.00 and set a “buy” rating for the company in a report on Monday, July 30th. BMO Capital Markets reaffirmed a “sell” rating and set a $78.00 target price on shares of AbbVie in a report on Wednesday, August 22nd. Cowen set a $110.00 target price on AbbVie and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 target price on shares of AbbVie in a report on Friday, July 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $107.21.

In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the transaction, the executive vice president now owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Shares of NYSE ABBV opened at $90.69 on Friday. AbbVie Inc has a 12 month low of $85.24 and a 12 month high of $125.86. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. The stock has a market cap of $143.22 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. AbbVie’s revenue was up 19.2% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc will post 7.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is 68.57%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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