Gilliland Jeter Wealth Management LLC Has $279,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Gilliland Jeter Wealth Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 30.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,570 shares of the company’s stock after purchasing an additional 366 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in AbbVie were worth $279,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. AMF Tjanstepension AB acquired a new stake in AbbVie during the third quarter worth approximately $8,777,000. West Financial Advisors LLC increased its holdings in AbbVie by 16.6% in the 3rd quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after buying an additional 109 shares during the period. CWM LLC raised its position in shares of AbbVie by 6.7% in the 3rd quarter. CWM LLC now owns 245,019 shares of the company’s stock valued at $48,386,000 after buying an additional 15,388 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of AbbVie by 5.0% during the 3rd quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock worth $4,292,000 after acquiring an additional 1,051 shares during the period. Finally, Adirondack Trust Co. boosted its position in shares of AbbVie by 1.9% during the 3rd quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock worth $3,207,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ABBV shares. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five research 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’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

Shares of AbbVie stock opened at $192.95 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business has a 50-day moving average price of $177.19 and a two-hundred day moving average price of $185.43. The company has a market cap of $340.96 billion, a P/E ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by company insiders.

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.