AbbVie Inc (ABBV) Holdings Increased by British Airways Pensions Investment Management Ltd
British Airways Pensions Investment Management Ltd raised its position in shares of AbbVie Inc (NYSE:ABBV) by 0.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 102,590 shares of the company’s stock after purchasing an additional 840 shares during the quarter. British Airways Pensions Investment Management Ltd’s holdings in AbbVie were worth $9,505,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its position in shares of AbbVie by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after buying an additional 220,125 shares during the period. Janus Henderson Group PLC grew its position in shares of AbbVie by 15.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after buying an additional 717,452 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock worth $441,725,000 after buying an additional 522,029 shares during the period. Franklin Resources Inc. grew its position in shares of AbbVie by 8.5% during the 1st quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after buying an additional 340,709 shares during the period. Finally, Aristotle Capital Management LLC grew its position in shares of AbbVie by 0.9% during the 1st quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after buying an additional 34,727 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ABBV opened at $90.69 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -9.06. AbbVie Inc has a 1-year low of $85.24 and a 1-year high of $125.86. The firm has a market cap of $143.22 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 0.91 and a beta of 1.54.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.
Several analysts have recently commented on ABBV shares. Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 price objective on shares of AbbVie in a research report on Friday, July 27th. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price target on shares of AbbVie in a research report on Wednesday, August 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Monday, October 1st. ValuEngine downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Finally, Bank of America reduced their price target on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $107.21.
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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