AbbVie Inc. [NYSE: ABBV] stock went on an upward path that rose over 2.01% on Wednesday, amounting to a one-week price increase of more than 0.84%. The company report on February 12, 2021 that AbbVie to Present at the 10th Annual SVB Leerink Global Healthcare Conference.
AbbVie (NYSE: ABBV) will participate in the 10th Annual SVB Leerink Global Healthcare Conference on Friday, February 26. Michael Severino, M.D., vice chairman and president, Robert A. Michael, executive vice president and chief financial officer, and Jeffrey R. Stewart, executive vice president, commercial operations, will present virtually at 9:40 a.m. Central time.
A live audio webcast of the presentation will be accessible through AbbVie’s Investor Relations website at investors.abbvie.com. An archived edition of the session will be available later that day.
Over the last 12 months, ABBV stock rose by 13.55%. The one-year AbbVie Inc. stock forecast points to a potential upside of 11.78. The average equity rating for ABBV stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $186.41 billion, with 1.77 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 7.54M shares, ABBV stock reached a trading volume of 6929744 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $120.48 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 2.00. 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.
Bernstein have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on September 29, 2020, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $115, while Atlantic Equities analysts kept a Overweight rating on ABBV stock.
The Average True Range (ATR) for AbbVie Inc. is set at 2.39, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.59. The Price to Book ratio for the last quarter was 12.32, with the Price to Cash per share for the same quarter was set at 4.53. Price to Free Cash Flow for ABBV in the course of the last twelve months was 25.14 with Quick ratio for the last quarter at 0.80.
ABBV Stock Performance Analysis:
AbbVie Inc. [ABBV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.84. With this latest performance, ABBV shares dropped by -3.83% in over the last four-week period, additionally plugging by 10.32% over the last 6 months – not to mention a rise of 13.55% 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 50.79, with the RSI for the last a single of trading hit 52.15, and the three-weeks RSI is set at 51.40 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 106.47, while it was recorded at 104.55 for the last single week of trading, and 96.40 for the last 200 days.
Insight into AbbVie Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and AbbVie Inc. [ABBV] shares currently have an operating margin of +34.17 and a Gross Margin at +81.90. AbbVie Inc.’s Net Margin is presently recorded at +10.08.
AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.
ABBV Stock EPS
With the latest financial reports released by the company, AbbVie Inc. posted 2.42/share EPS, while the average EPS was predicted by analysts to be reported at 2.25/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.60%. 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 4.77%.
AbbVie Inc. [ABBV] Insider Position Details
There are presently around $124,988 million, or 69.80% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 142,563,074, which is approximately -1.228% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 124,423,484 shares of the stock with an approximate value of $13.22 billion in ABBV stocks shares; and STATE STREET CORP, currently with $8.31 billion in ABBV stock with ownership of nearly -0.059% of the company’s market capitalization.
Positions in AbbVie Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1,405 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 57,532,108 shares. Additionally, 987 investors decreased positions by around 75,728,446 shares, while 269 investors held positions by with 1,042,652,693 shares. The mentioned changes placed institutional holdings at 1,175,913,247 shares, according to the latest SEC report filing. ABBV stock had 303 new institutional investments in for a total of 10,592,201 shares, while 92 institutional investors sold positions of 2,474,551 shares during the same period.