Motiv8 Investments LLC Boosts Stake in AbbVie Inc. $ABBV

Motiv8 Investments LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 9.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,920 shares of the company’s stock after purchasing an additional 684 shares during the period. Motiv8 Investments LLC’s holdings in AbbVie were worth $1,470,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ABBV. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the period. Signal Advisors Wealth LLC boosted its stake in shares of AbbVie by 5.5% in the 1st quarter. Signal Advisors Wealth LLC now owns 1,733 shares of the company’s stock worth $363,000 after buying an additional 91 shares during the last quarter. KFG Wealth Management LLC grew its holdings in shares of AbbVie by 9.6% in the first quarter. KFG Wealth Management LLC now owns 1,819 shares of the company’s stock worth $381,000 after acquiring an additional 160 shares during the period. Finally, Sunflower Bank N.A. increased its position in AbbVie by 0.8% during the first quarter. Sunflower Bank N.A. now owns 13,763 shares of the company’s stock valued at $2,884,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABBV shares. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Saturday, September 27th. HSBC set a $225.00 price objective on shares of AbbVie in a research note on Thursday. Cantor Fitzgerald boosted their target price on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. UBS Group set a $251.00 target price on shares of AbbVie in a report on Friday. Finally, Evercore ISI lifted their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $228.22.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $234.07 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The stock has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. The company’s 50 day moving average is $210.77 and its two-hundred day moving average is $195.79.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.