Jackson Grant Investment Advisers Inc. Acquires 285 Shares of AbbVie Inc. (NYSE:ABBV)

Jackson Grant Investment Advisers Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 31,134 shares of the company’s stock after acquiring an additional 285 shares during the period. AbbVie makes up approximately 2.1% of Jackson Grant Investment Advisers Inc.’s holdings, making the stock its 8th largest holding. Jackson Grant Investment Advisers Inc.’s holdings in AbbVie were worth $5,533,000 at the end of the most recent reporting period.

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 bought a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $191.74 on Thursday. 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 company has a market capitalization of $338.82 billion, a PE ratio of 79.89, a price-to-earnings-growth 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 company has a 50-day simple moving average of $177.01 and a 200 day simple moving average of $185.38.

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. On average, research analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

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.