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

Gilliland Jeter Wealth Management LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,570 shares of the company’s stock after purchasing an additional 366 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in AbbVie were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AMF Tjanstepension AB bought a new stake in AbbVie in the third quarter valued at approximately $8,777,000. West Financial Advisors LLC grew its holdings in shares of 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 increased 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 raised its stake in 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 buying an additional 1,051 shares during the period. Finally, Adirondack Trust Co. lifted its holdings in AbbVie by 1.9% during the third 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 own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABBV shares. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

Shares of ABBV stock opened at $192.95 on Friday. The company has a fifty day moving average price of $177.19 and a two-hundred day moving average price of $185.43. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock has a market cap of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58. 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 (NYSE:ABBV) last issued its 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the company earned $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.