Motive Wealth Advisors Raises Stock Holdings in AbbVie Inc. $ABBV

Motive Wealth Advisors boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,171 shares of the company’s stock after purchasing an additional 194 shares during the period. Motive Wealth Advisors’ holdings in AbbVie were worth $403,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie in the second quarter valued at approximately $25,000. Abound Financial LLC purchased a new position in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $220.11 on Thursday. The business has a fifty day moving average of $205.07 and a two-hundred day moving average of $195.21. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market cap of $388.84 billion, a price-to-earnings ratio of 104.81, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $225.16.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.65 EPS. As a group, research analysts anticipate 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, November 14th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and raised their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Evercore ISI lifted their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $223.45.

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.