AbbVie Inc. (NYSE:ABBV) Shares Acquired by Motiv8 Investments LLC

Motiv8 Investments LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,499 shares of the company’s stock after purchasing an additional 577 shares during the quarter. Motiv8 Investments LLC’s holdings in AbbVie were worth $1,086,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth approximately $27,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in AbbVie in the 1st quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Piper Sandler increased their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. TD Cowen boosted their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, BMO Capital Markets increased their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $199.39.

AbbVie Trading Down 0.9 %

AbbVie stock traded down $1.80 during midday trading on Friday, reaching $187.85. The stock had a trading volume of 4,017,525 shares, compared to its average volume of 5,287,914. The firm’s fifty day simple moving average is $194.02 and its two-hundred day simple moving average is $178.34. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The firm has a market cap of $331.72 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.