Motiv8 Investments LLC Acquires 342 Shares of AbbVie Inc. (NYSE:ABBV)

Motiv8 Investments LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,236 shares of the company’s stock after acquiring an additional 342 shares during the quarter. AbbVie makes up 1.0% of Motiv8 Investments LLC’s portfolio, making the stock its 28th biggest position. Motiv8 Investments LLC’s holdings in AbbVie were worth $1,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its position in shares of AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of AbbVie in the 4th quarter worth about $127,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in AbbVie during the 4th quarter valued at about $876,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABBV. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Trading Up 0.0%

Shares of AbbVie stock opened at $185.64 on Thursday. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company’s fifty day simple moving average is $185.74 and its 200-day simple moving average is $187.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a market capitalization of $327.91 billion, a PE ratio of 79.00, a P/E/G ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.53%. AbbVie’s payout ratio is currently 279.15%.

About AbbVie

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.