Motive Wealth Advisors Takes $341,000 Position in AbbVie Inc. (NYSE:ABBV)

Motive Wealth Advisors bought a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,870 shares of the company’s stock, valued at approximately $341,000.

Other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter worth $26,000. Able Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC bought a new stake in AbbVie during the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in AbbVie during the first quarter worth $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock traded up $0.37 during trading hours on Friday, reaching $170.28. 4,131,971 shares of the stock were exchanged, compared to its average volume of 5,593,598. The company has a market cap of $300.69 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 2.18 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The stock has a 50 day moving average of $165.23 and a two-hundred day moving average of $168.39.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. Equities analysts expect that AbbVie Inc. will post 10.73 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.64%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

Several analysts have issued reports on ABBV shares. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Tuesday, July 2nd. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Morgan Stanley increased their price objective on shares of AbbVie from $191.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $181.07.

View Our Latest Analysis on AbbVie

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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