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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC lifted its position in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC increased its stake in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its holdings in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares in the last quarter. Connecticut Wealth Management LLC boosted its position in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after acquiring an additional 57 shares during the last quarter. Finally, Northstar Group Inc. grew its holdings in shares of AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.0%

Shares of NYSE ABBV opened at $185.64 on Thursday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The firm has a market capitalization of $327.91 billion, a price-to-earnings ratio of 79.00, a PEG ratio of 1.23 and a beta of 0.50. The stock has a 50 day moving average price of $185.74 and a 200 day moving average price of $187.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Citigroup increased their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.