Alliance Wealth Advisors LLC UT Has $3.21 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Alliance Wealth Advisors LLC UT increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,040 shares of the company’s stock after purchasing an additional 480 shares during the period. 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 hedge funds have also added to or reduced their stakes in the business. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the 4th quarter worth $35,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth $39,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.20 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm’s 50-day simple moving average is $176.57 and its two-hundred day simple moving average is $185.13.

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 in the prior year, the firm posted $2.79 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current year.

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.