Motiv8 Investments LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Motiv8 Investments LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,894 shares of the company’s stock after buying an additional 1,395 shares during the period. Motiv8 Investments LLC’s holdings in AbbVie were worth $1,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the 4th quarter valued at $35,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABBV. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $203.08 on Thursday. The firm has a 50 day moving average of $183.08 and a 200 day moving average of $186.72. The firm has a market capitalization of $358.51 billion, a price-to-earnings ratio of 84.62, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

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.