Sunday, September 27, 2020

AbbVie Inc. [ABBV] stock Upgrade by Atlantic Equities analyst, price target now $115

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AbbVie Inc. [NYSE: ABBV] traded at a low on 09/04/20, posting a 0.00 loss after which it closed the day’ session at $91.87. The company report on September 4, 2020 that AbbVie and I-Mab Enter Into Global Strategic Partnership for Differentiated Immuno-oncology Therapy.

AbbVie and I-Mab to collaborate on development and commercialization of I-Mab’s highly differentiated anti-CD47 monoclonal antibody lemzoparlimab (TJC4).

I-Mab to receive upfront payment of $180 million.

The results of the trading session contributed to over 9428116 shares changing hands. Over the past one week, the price volatility of AbbVie Inc. stands at 3.22% while the volatility over the past one month is 1.87%.

The market cap for ABBV stock reached $162.13 billion, with 1.76 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 7.28M shares, ABBV reached a trading volume of 9428116 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about AbbVie Inc. [ABBV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABBV shares is $109.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABBV stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Atlantic Equities have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 23, 2020. The new note on the price target was released on June 09, 2020, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $115, while Argus analysts kept a Buy rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 1.97, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.48. The Price to Book ratio for the last quarter was 10.29, with the Price to Cash per share for the same quarter was set at 3.42. Price to Free Cash Flow for ABBV in the course of the last twelve months was 21.87 with Quick ratio for the last quarter at 0.70.

How has ABBV stock performed recently?

AbbVie Inc. [ABBV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, ABBV shares dropped by -0.76% in over the last four-week period, additionally plugging by 7.74% over the last 6 months – not to mention a rise of 35.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABBV stock in for the last two-week period is set at 39.63, with the RSI for the last a single of trading hit 37.39, and the three-weeks RSI is set at 42.49 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 96.11, while it was recorded at 93.14 for the last single week of trading, and 89.03 for the last 200 days.

AbbVie Inc. [ABBV]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and AbbVie Inc. [ABBV] shares currently have an operating margin of +41.83 and a Gross Margin at +77.14. AbbVie Inc.’s Net Margin is presently recorded at +23.57.

Return on Total Capital for ABBV is now 30.66, given the latest momentum, and Return on Invested Capital for the company is 19.22. Additionally, ABBV Total Debt to Total Capital is recorded at 113.87, with Total Debt to Total Assets ending up at 75.28.

Reflecting on the efficiency of the workforce at the company, AbbVie Inc. [ABBV] managed to generate an average of $261,400 per employee. Receivables Turnover for the company is 5.89 with a Total Asset Turnover recorded at a value of 0.45.AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

Earnings analysis for AbbVie Inc. [ABBV]

With the latest financial reports released by the company, AbbVie Inc. posted 2.33/share EPS, while the average EPS was predicted by analysts to be reported at 2.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABBV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AbbVie Inc. go to 8.27%.

Insider trade positions for AbbVie Inc. [ABBV]

There are presently around $113,431 million, or 70.70% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 147,386,808, which is approximately 0.007% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 123,356,424 shares of the stock with an approximate value of $11.33 billion in ABBV stocks shares; and STATE STREET CORP, currently with $7.32 billion in ABBV stock with ownership of nearly -0.454% of the company’s market capitalization.

Positions in AbbVie Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,320 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 70,765,754 shares. Additionally, 1,083 investors decreased positions by around 182,830,436 shares, while 203 investors held positions by with 981,099,432 shares. The mentioned changes placed institutional holdings at 1,234,695,622 shares, according to the latest SEC report filing. ABBV stock had 185 new institutional investments in for a total of 4,410,266 shares, while 176 institutional investors sold positions of 44,553,060 shares during the same period.

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