Motiv8 Investments LLC Has $845,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Motiv8 Investments LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 4,922 shares of the company’s stock after acquiring an additional 120 shares during the period. Motiv8 Investments LLC’s holdings in AbbVie were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Advisors Ltd. LLC boosted its stake in AbbVie by 1.3% in the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after acquiring an additional 55 shares during the last quarter. Hilltop Partners LLC boosted its stake in AbbVie by 1.4% in the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock valued at $662,000 after acquiring an additional 55 shares during the last quarter. Lokken Investment Group LLC boosted its stake in AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after acquiring an additional 58 shares during the last quarter. RAM Investment Partners LLC boosted its stake in AbbVie by 1.1% in the second quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock valued at $895,000 after acquiring an additional 59 shares during the last quarter. Finally, L. Roy Papp & Associates LLP boosted its stake in AbbVie by 0.8% in the second quarter. L. Roy Papp & Associates LLP now owns 7,892 shares of the company’s stock valued at $1,354,000 after acquiring an additional 60 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock traded up $0.54 during midday trading on Friday, reaching $193.40. 4,312,632 shares of the stock were exchanged, compared to its average volume of 5,427,167. The company’s fifty day moving average is $183.88 and its 200-day moving average is $174.61. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. 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 Inc. has a 52 week low of $135.85 and a 52 week high of $199.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm posted $2.91 EPS. AbbVie’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.21%. AbbVie’s dividend payout ratio is presently 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In other AbbVie 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 owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Buy” and a consensus target price of $191.64.

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.