Railway Pension Investments Ltd Has $196.44 Million Stock Holdings in AbbVie Inc. $ABBV

Railway Pension Investments Ltd boosted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 859,749 shares of the company’s stock after buying an additional 5,800 shares during the period. AbbVie makes up 2.3% of Railway Pension Investments Ltd’s portfolio, making the stock its 12th largest holding. Railway Pension Investments Ltd’s holdings in AbbVie were worth $196,444,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in AbbVie by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 177,747,261 shares of the company’s stock valued at $41,155,601,000 after purchasing an additional 448,554 shares during the period. Public Sector Pension Investment Board boosted its holdings in AbbVie by 17.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,044,690 shares of the company’s stock valued at $241,888,000 after purchasing an additional 151,644 shares during the period. Thornburg Investment Management Inc. boosted its holdings in AbbVie by 25.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 401,760 shares of the company’s stock valued at $93,024,000 after purchasing an additional 81,625 shares during the period. Channing Capital Management LLC boosted its holdings in AbbVie by 10.5% in the 3rd quarter. Channing Capital Management LLC now owns 55,647 shares of the company’s stock valued at $12,885,000 after purchasing an additional 5,302 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in AbbVie by 19.9% in the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock valued at $7,484,000 after purchasing an additional 5,427 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

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Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie received U.S. FDA approval for DECNUPAZ, its first ADC approved for blood cancer, opening a new potential revenue stream in a highly specialized oncology market. U.S. FDA Approves DECNUPAZTM (pivekimab sunirine-pvzy) for Treatment of Adult Patients with Blastic Plasmacytoid Dendritic Cell Neoplasm, an Ultra-Rare and Aggressive Blood Cancer With Limited Treatment Options
• Positive Sentiment: The European Commission expanded the VENCLYXTO label in untreated CLL, broadening use of an established oncology drug and potentially supporting international sales. AbbVie Announces European Commission Authorization of Expanded Label for VENCLYXTO® (venetoclax) to Include Additional Combinations in Previously Untreated Chronic Lymphocytic Leukemia
• Positive Sentiment: AbbVie advanced ABBV-519 into first-in-human testing, signaling continued momentum in its immunology pipeline. AbbVie Inc. (ABBV) Presents at EU Clinical Trial Regulation: Latest Developments and Upcoming Opportunities Transcript
• Neutral Sentiment: Recent articles note ABBV has outperformed since its last earnings report and remains viewed as reasonably valued by some analysts, but these are more commentary than fresh business catalysts. AbbVie (ABBV) Up 3.5% Since Last Earnings Report: Can It Continue?

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABBV shares. Barclays started coverage on shares of AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price objective for the company. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday, April 30th. Piper Sandler boosted their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Guggenheim reaffirmed a “buy” rating and set a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Read Our Latest Report on ABBV

Insider Buying and Selling at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. This represents a 66.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

AbbVie Trading Down 0.4%

Shares of AbbVie stock opened at $217.83 on Friday. The company has a 50 day moving average of $208.43 and a 200-day moving average of $219.66. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The company has a market cap of $384.85 billion, a PE ratio of 107.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Company Profile

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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