Hexagon Capital Partners LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Hexagon Capital Partners LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,422 shares of the company’s stock after selling 409 shares during the quarter. AbbVie makes up about 0.3% of Hexagon Capital Partners LLC’s portfolio, making the stock its 26th biggest holding. Hexagon Capital Partners LLC’s holdings in AbbVie were worth $1,466,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. Ethic Inc. grew its holdings in shares of AbbVie by 10.2% during the 4th quarter. Ethic Inc. now owns 38,570 shares of the company’s stock worth $5,977,000 after purchasing an additional 3,574 shares during the period. First Financial Bankshares Inc acquired a new position in AbbVie during the 4th quarter worth approximately $875,000. Kestra Advisory Services LLC increased its holdings in AbbVie by 2.1% in the fourth quarter. Kestra Advisory Services LLC now owns 289,111 shares of the company’s stock valued at $44,804,000 after buying an additional 5,962 shares during the last quarter. Waverly Advisors LLC increased its holdings in shares of AbbVie by 7.8% in the 4th quarter. Waverly Advisors LLC now owns 31,828 shares of the company’s stock valued at $4,932,000 after acquiring an additional 2,290 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in AbbVie in the fourth quarter valued at approximately $14,080,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.9 %

Shares of ABBV opened at $194.67 on Thursday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The stock has a fifty day moving average of $193.70 and a two-hundred day moving average of $177.05. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market capitalization of $343.76 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company earned $2.91 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Truist Financial restated a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday. UBS Group raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.67.

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.