Dillon & Associates Inc. Has $11.20 Million Holdings in AbbVie Inc (ABBV)

Dillon & Associates Inc. cut its stake in AbbVie Inc (NYSE:ABBV) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 117,860 shares of the company’s stock after selling 3,256 shares during the quarter. AbbVie accounts for about 4.3% of Dillon & Associates Inc.’s portfolio, making the stock its 5th largest position. Dillon & Associates Inc.’s holdings in AbbVie were worth $11,197,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ABBV. BlackRock Inc. increased its position in shares of AbbVie by 2.8% during the fourth quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock worth $9,798,871,000 after acquiring an additional 2,714,857 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AbbVie by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 16,042,851 shares of the company’s stock worth $1,548,096,000 after acquiring an additional 697,191 shares during the last quarter. Jennison Associates LLC increased its position in shares of AbbVie by 85.3% during the fourth quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock worth $1,098,021,000 after acquiring an additional 5,227,056 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of AbbVie by 3.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock worth $998,157,000 after acquiring an additional 347,642 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of AbbVie by 3.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after acquiring an additional 220,125 shares during the last quarter. 69.40% of the stock is currently owned by institutional investors.

Shares of AbbVie opened at $93.49 on Monday, Marketbeat.com reports. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. The stock has a market capitalization of $151.63 billion, a P/E ratio of 16.69, a PEG ratio of 0.89 and a beta of 1.61. AbbVie Inc has a fifty-two week low of $69.38 and a fifty-two week high of $125.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.08. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same period in the previous year, the company earned $1.28 earnings per share. AbbVie’s quarterly revenue was up 21.4% on a year-over-year basis. equities research analysts anticipate that AbbVie Inc will post 7.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th will be paid a $0.96 dividend. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.11%. AbbVie’s payout ratio is currently 68.57%.

In related news, Director Edward J. Rapp bought 1,013 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was bought at an average cost of $98.63 per share, for a total transaction of $99,912.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 17,588 shares of AbbVie stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $99.47, for a total value of $1,749,478.36. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

A number of brokerages have recently issued reports on ABBV. ValuEngine lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Friday. Piper Jaffray Companies lowered AbbVie from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $125.86 to $66.62 in a research report on Friday, June 1st. Credit Suisse Group set a $89.00 target price on AbbVie and gave the stock a “sell” rating in a research report on Wednesday, June 6th. BMO Capital Markets reaffirmed a “sell” rating and set a $80.00 target price on shares of AbbVie in a research report on Thursday, April 5th. Finally, Jefferies Financial Group set a $122.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Friday, April 13th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average price target of $106.51.

AbbVie Profile

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

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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