Hexagon Capital Partners LLC Sells 324 Shares of AbbVie Inc. (NYSE:ABBV)

Hexagon Capital Partners LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,651 shares of the company’s stock after selling 324 shares during the period. Hexagon Capital Partners LLC’s holdings in AbbVie were worth $1,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pure Portfolios Holdings LLC bought a new stake in shares of AbbVie during the first quarter valued at about $224,000. Tradewinds LLC. increased its position in shares of AbbVie by 4.4% in the first quarter. Tradewinds LLC. now owns 11,714 shares of the company’s stock worth $2,454,000 after purchasing an additional 490 shares during the last quarter. Jackson Wealth Management LLC increased its position in shares of AbbVie by 37.1% in the first quarter. Jackson Wealth Management LLC now owns 43,678 shares of the company’s stock worth $9,151,000 after purchasing an additional 11,825 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of AbbVie by 8.0% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 11,044 shares of the company’s stock worth $2,314,000 after purchasing an additional 818 shares during the last quarter. Finally, Lee Danner & Bass Inc. increased its position in shares of AbbVie by 0.7% in the first quarter. Lee Danner & Bass Inc. now owns 19,693 shares of the company’s stock worth $4,126,000 after purchasing an additional 136 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.7%

Shares of NYSE ABBV opened at $189.50 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm’s fifty day moving average is $187.37 and its 200 day moving average is $188.56. The company has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is 279.15%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie 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.