Corundum Group Inc. Sells 102 Shares of AbbVie Inc. (NYSE:ABBV)

Corundum Group Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,866 shares of the company’s stock after selling 102 shares during the quarter. Corundum Group Inc.’s holdings in AbbVie were worth $886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. DGS Capital Management LLC boosted its stake in AbbVie by 33.0% in the 1st quarter. DGS Capital Management LLC now owns 3,279 shares of the company’s stock worth $597,000 after purchasing an additional 814 shares during the period. Revolve Wealth Partners LLC boosted its stake in AbbVie by 10.1% in the 1st quarter. Revolve Wealth Partners LLC now owns 3,083 shares of the company’s stock worth $561,000 after purchasing an additional 282 shares during the period. Aspiriant LLC boosted its stake in AbbVie by 2.9% in the 1st quarter. Aspiriant LLC now owns 9,265 shares of the company’s stock worth $1,687,000 after purchasing an additional 260 shares during the period. St. Johns Investment Management Company LLC boosted its stake in AbbVie by 18.4% in the 1st quarter. St. Johns Investment Management Company LLC now owns 4,008 shares of the company’s stock worth $730,000 after purchasing an additional 624 shares during the period. Finally, Aletheian Wealth Advisors LLC boosted its stake in AbbVie by 18.0% in the 1st quarter. Aletheian Wealth Advisors LLC now owns 1,609 shares of the company’s stock worth $293,000 after purchasing an additional 246 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $168.99 on Friday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The stock has a market capitalization of $298.41 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. The stock’s 50 day moving average price is $164.41 and its 200-day moving average price is $167.29.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.67%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler lifted their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.64.

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.