Motiv8 Investments LLC Acquires 1,395 Shares of AbbVie Inc. (NYSE:ABBV)

Motiv8 Investments LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 25.4% in the 4th quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Command Advisory Services Inc. grew its position in shares of AbbVie by 23.2% during the 4th quarter. First Command Advisory Services Inc. now owns 6,807 shares of the company’s stock valued at $1,210,000 after acquiring an additional 1,282 shares during the period. Alecta Tjanstepension Omsesidigt bought a new stake in AbbVie during the fourth quarter valued at about $186,431,000. Proficio Capital Partners LLC lifted its position in shares of AbbVie by 26,693.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after acquiring an additional 1,172,362 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of AbbVie by 0.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 149,869 shares of the company’s stock worth $26,632,000 after acquiring an additional 1,103 shares during the period. Finally, Kovack Advisors Inc. grew its position in shares of AbbVie by 8.9% during the fourth quarter. Kovack Advisors Inc. now owns 16,948 shares of the company’s stock worth $3,012,000 after purchasing an additional 1,379 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Down 0.5 %

AbbVie stock opened at $203.08 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $358.51 billion, a P/E ratio of 84.62, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a fifty day moving average of $183.08 and a two-hundred day moving average of $186.72.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 previous year, the business posted $2.79 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given 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 is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity at AbbVie

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

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.