UBS slashes price target on AbbVie Inc. [ABBV] – find out why.


AbbVie Inc. [NYSE: ABBV] traded at a high on 03/29/22, posting a 0.13 gain after which it closed the day’ session at $162.18. The company report on March 29, 2022 that AbbVie to Showcase Breadth of Neuroscience Portfolio and Pipeline at American Academy of Neurology (AAN) 2022 Annual Meeting.

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— AbbVie to present 30 abstracts demonstrating its leadership in neuroscience, including continued migraine treatment research across the spectrum of the disease, commitment to patients with advanced Parkinson’s disease, and new studies in spasticity and cervical dystonia.

AbbVie (NYSE: ABBV) today announced that data from its neuroscience portfolio will be presented at the 2022 American Academy of Neurology (AAN) Annual Meeting, to be held in Seattle from April 2-7, and virtually April 24-26.

The results of the trading session contributed to over 6152439 shares changing hands. Over the past one week, the price volatility of AbbVie Inc. stands at 1.37% while the volatility over the past one month is 1.73%.

The market cap for ABBV stock reached $284.59 billion, with 1.77 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 7.77M shares, ABBV reached a trading volume of 6152439 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 $152.79 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.

UBS have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 28, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $117 to $122. The new note on the price target was released on February 03, 2022, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise from $135 to $138, while BofA Securities kept a Neutral rating on ABBV stock. On February 03, 2022, analysts increased their price target for ABBV shares from 153 to 154.

The Average True Range (ATR) for AbbVie Inc. is set at 2.74, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 5.06. The Price to Book ratio for the last quarter was 18.66, with the Price to Cash per share for the same quarter was set at 5.60. Price to Free Cash Flow for ABBV in the course of the last twelve months was 22.36 with Quick ratio for the last quarter at 0.70.

How has ABBV stock performed recently?

AbbVie Inc. [ABBV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.36. With this latest performance, ABBV shares gained by 9.75% in over the last four-week period, additionally plugging by 51.09% over the last 6 months – not to mention a rise of 51.87% 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 77.43, with the RSI for the last a single of trading hit 80.09, and the three-weeks RSI is set at 75.36 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 146.47, while it was recorded at 160.84 for the last single week of trading, and 124.61 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 +35.14 and a Gross Margin at +69.49. AbbVie Inc.’s Net Margin is presently recorded at +20.41.

Return on Equity for this stock inclined to 80.52, with Return on Assets sitting at 7.72.

AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

Earnings analysis for AbbVie Inc. [ABBV]

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 2.57%.

Insider trade positions for AbbVie Inc. [ABBV]

There are presently around $193,867 million, or 69.10% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 146,312,069, which is approximately 0.538% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 128,197,554 shares of the stock with an approximate value of $20.76 billion in ABBV stocks shares; and STATE STREET CORP, currently with $12.85 billion in ABBV stock with ownership of nearly 3.383% 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 1,696 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 62,897,065 shares. Additionally, 1,019 investors decreased positions by around 49,581,795 shares, while 328 investors held positions by with 1,084,454,107 shares. The mentioned changes placed institutional holdings at 1,196,932,967 shares, according to the latest SEC report filing. ABBV stock had 394 new institutional investments in for a total of 8,290,639 shares, while 84 institutional investors sold positions of 3,077,620 shares during the same period.