Hudson Edge Investment Partners Inc. Sells 9,052 Shares of AbbVie Inc. (NYSE:ABBV)

Hudson Edge Investment Partners Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,272 shares of the company's stock after selling 9,052 shares during the period. AbbVie comprises approximately 1.3% of Hudson Edge Investment Partners Inc.'s investment portfolio, making the stock its 23rd largest position. Hudson Edge Investment Partners Inc.'s holdings in AbbVie were worth $6,343,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABBV. EnRich Financial Partners LLC raised its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie in the 4th quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the 4th quarter valued at approximately $32,000. Pinney & Scofield Inc. bought a new position in AbbVie in the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the 1st quarter valued at approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.7%

ABBV traded down $1.25 during mid-day trading on Friday, reaching $189.50. 3,706,217 shares of the stock were exchanged, compared to its average volume of 6,249,990. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a market capitalization of $334.73 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company has a 50 day moving average price of $187.37 and a two-hundred day moving average price of $188.46. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 279.15%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Company 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.