Corundum Group Inc. Acquires 4,159 Shares of AbbVie Inc. (NYSE:ABBV)

Corundum Group Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 82.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,181 shares of the company's stock after purchasing an additional 4,159 shares during the quarter. Corundum Group Inc.'s holdings in AbbVie were worth $1,631,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GGM Financials LLC grew its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after acquiring an additional 52 shares during the period. Dillon & Associates Inc. raised its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after purchasing an additional 52 shares in the last quarter. First Citizens Financial Corp lifted its position in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after purchasing an additional 53 shares during the period. Finally, Sunflower Bank N.A. boosted its stake in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock valued at $2,710,000 after purchasing an additional 53 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price target on the stock. Finally, Guggenheim increased their price objective on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $205.50.

AbbVie Stock Up 0.0 %

ABBV traded up $0.06 during trading on Tuesday, reaching $171.62. 3,319,685 shares of the stock traded hands, compared to its average volume of 5,359,139. The stock's 50-day simple moving average is $175.72 and its two-hundred day simple moving average is $184.80. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market cap of $303.28 billion, a price-to-earnings ratio of 59.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. AbbVie's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's payout ratio is 227.78%.

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.