Hexagon Capital Partners LLC increased its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,831 shares of the company’s stock after buying an additional 747 shares during the quarter. Hexagon Capital Partners LLC’s holdings in AbbVie were worth $1,248,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group raised its stake in AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after acquiring an additional 93 shares during the period. Align Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth approximately $27,000. Red Tortoise LLC bought a new stake in AbbVie during the 4th quarter worth approximately $27,000. Boulder Wealth Advisors LLC bought a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, My Personal CFO LLC bought a new stake in AbbVie during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.27% of the company’s stock.
AbbVie Stock Down 1.3 %
NYSE ABBV opened at $135.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46. The company has a fifty day moving average of $140.00 and a two-hundred day moving average of $150.05. The firm has a market capitalization of $239.06 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.50 and a beta of 0.56. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $168.11.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio is currently 139.95%.
Analyst Ratings Changes
A number of equities research analysts have commented on ABBV shares. Argus cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Morgan Stanley lifted their price objective on shares of AbbVie from $178.00 to $181.00 and gave the company an “overweight” rating in a research report on Monday, April 10th. Guggenheim reduced their price objective on shares of AbbVie from $172.00 to $171.00 in a research report on Friday, April 28th. Wells Fargo & Company reduced their price objective on shares of AbbVie from $200.00 to $195.00 in a research report on Friday, April 28th. Finally, Barclays lifted their price objective on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.40.
Insider Activity
In other news, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $161.67, for a total transaction of $1,212,363.33. Following the completion of the sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at $5,829,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
AbbVie Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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