Alliance Wealth Advisors LLC UT Acquires 480 Shares of AbbVie Inc. (NYSE:ABBV)

Alliance Wealth Advisors LLC UT lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,040 shares of the company’s stock after acquiring an additional 480 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in AbbVie were worth $3,206,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vantage Point Financial LLC purchased a new stake in AbbVie during the 4th quarter valued at about $205,000. Fourpath Capital Management LLC boosted its stake in shares of AbbVie by 13.4% during the fourth quarter. Fourpath Capital Management LLC now owns 7,426 shares of the company’s stock valued at $1,320,000 after purchasing an additional 876 shares during the period. Optas LLC grew its holdings in shares of AbbVie by 6.8% in the fourth quarter. Optas LLC now owns 4,824 shares of the company’s stock worth $857,000 after purchasing an additional 309 shares during the last quarter. Holistic Planning LLC increased its stake in shares of AbbVie by 27.6% in the fourth quarter. Holistic Planning LLC now owns 1,354 shares of the company’s stock worth $241,000 after buying an additional 293 shares during the period. Finally, Hodges Capital Management Inc. increased its stake in shares of AbbVie by 15.8% in the fourth quarter. Hodges Capital Management Inc. now owns 40,989 shares of the company’s stock worth $7,283,000 after buying an additional 5,587 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $190.20 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average price is $176.57 and its 200-day moving average price is $185.13. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market cap of $336.12 billion, a P/E ratio of 79.25, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.