AbbVie Inc. [NYSE: ABBV] stock went on a downward path that fall over -0.26% on Wednesday, amounting to a one-week price increase of more than 1.34%. The company report on June 12, 2021 that IMBRUVICA® (ibrutinib) Plus VENCLEXTA®/VENCLYXTO® (venetoclax) Combination Shows Superior Progression-Free Survival Compared to Chlorambucil Plus Obinutuzumab in First-line Chronic Lymphocytic Leukemia (CLL) Phase 3 GLOW Study.
– All-oral, once-daily, chemotherapy-free, fixed-duration ibrutinib plus venetoclax (I+V) combination met its primary endpoint of progression-free survival (PFS) as assessed by an independent review committee (IRC); I+V reduced the risk of disease progression or death by 78% compared to chlorambucil plus obinutuzumab (C+O).
– The safety profile of I+V was generally consistent with the safety profile of the single agents, and tolerability profiles were consistent with CLL treatment in the enrolled patient population.
Over the last 12 months, ABBV stock rose by 20.27%. The one-year AbbVie Inc. stock forecast points to a potential upside of 6.7. 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 $205.50 billion, with 1.77 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 6.96M shares, ABBV stock reached a trading volume of 6570527 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 $123.82 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.
RBC Capital Mkts have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on November 10, 2020, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $98, while Berenberg analysts kept a Hold rating on ABBV stock.
The Average True Range (ATR) for AbbVie Inc. is set at 1.78, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.09. The Price to Book ratio for the last quarter was 14.91, with the Price to Cash per share for the same quarter was set at 5.50. Price to Free Cash Flow for ABBV in the course of the last twelve months was 21.60 with Quick ratio for the last quarter at 0.70.
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 1.34. With this latest performance, ABBV shares dropped by -1.16% in over the last four-week period, additionally plugging by 10.87% over the last 6 months – not to mention a rise of 20.27% 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 56.79, with the RSI for the last a single of trading hit 58.43, and the three-weeks RSI is set at 56.39 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 112.76, while it was recorded at 115.68 for the last single week of trading, and 103.05 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 +34.12 and a Gross Margin at +69.18. AbbVie Inc.’s Net Margin is presently recorded at +9.95.
Return on Total Capital for ABBV is now 19.65, given the latest momentum, and Return on Invested Capital for the company is 6.22. Return on Equity for this stock inclined to 185.81, with Return on Assets sitting at 3.80. When it comes to the capital structure of this company, AbbVie Inc. [ABBV] has a Total Debt to Total Equity ratio set at 665.82. Additionally, ABBV Total Debt to Total Capital is recorded at 86.94, with Total Debt to Total Assets ending up at 57.82. Long-Term Debt to Equity for the company is recorded at 599.46, with the Long-Term Debt to Total Capital now at 78.28.
Reflecting on the efficiency of the workforce at the company, AbbVie Inc. [ABBV] managed to generate an average of $96,936 per employee. Receivables Turnover for the company is 6.43 with a Total Asset Turnover recorded at a value of 0.38.AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.
ABBV Stock EPS
With the latest financial reports released by the company, AbbVie Inc. posted 2.34/share EPS, while the average EPS was predicted by analysts to be reported at 2.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.80%. 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 4.50%.
AbbVie Inc. [ABBV] Insider Position Details
There are presently around $137,404 million, or 68.90% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 143,733,946, which is approximately 0.821% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 126,615,997 shares of the stock with an approximate value of $14.63 billion in ABBV stocks shares; and STATE STREET CORP, currently with $8.72 billion in ABBV stock with ownership of nearly -3.411% of the company’s market capitalization.
Positions in AbbVie Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,436 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 56,937,670 shares. Additionally, 1,012 investors decreased positions by around 64,692,882 shares, while 283 investors held positions by with 1,067,702,384 shares. The mentioned changes placed institutional holdings at 1,189,332,936 shares, according to the latest SEC report filing. ABBV stock had 145 new institutional investments in for a total of 3,621,758 shares, while 103 institutional investors sold positions of 4,612,804 shares during the same period.