Motiv8 Investments LLC Buys 120 Shares of AbbVie Inc. (NYSE:ABBV)

Motiv8 Investments LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,922 shares of the company’s stock after buying an additional 120 shares during the period. Motiv8 Investments LLC’s holdings in AbbVie were worth $845,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ABBV. Ridgewood Investments LLC bought a new position in AbbVie during the second quarter worth about $27,000. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the fourth quarter worth about $26,000. IFS Advisors LLC bought a new position in AbbVie during the first quarter worth about $36,000. Redmont Wealth Advisors LLC bought a new position in AbbVie during the first quarter worth about $37,000. Finally, Able Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $33,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABBV. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $191.64.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a filing with the SEC, which is available at this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.3 %

NYSE ABBV traded up $0.54 on Friday, hitting $193.40. The company’s stock had a trading volume of 4,312,632 shares, compared to its average volume of 5,427,167. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company’s 50-day moving average is $183.88 and its 200 day moving average is $174.61. The firm has a market cap of $341.52 billion, a PE ratio of 57.42, a PEG ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the company posted $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

AbbVie Company 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.