AbbVie Inc. [ABBV] moved up 1.03: Why It’s Important

AbbVie Inc. [NYSE: ABBV] traded at a high on 02/27/23, posting a 1.03 gain after which it closed the day’ session at $154.28. The company report on February 27, 2023 that AbbVie Highlights Robust Gastroenterology Portfolio with New Analyses and Data in Inflammatory Bowel Diseases at the 18th Congress of European Crohn’s and Colitis Organisation (ECCO).

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A total of 24 accepted abstracts, including six oral and digital oral presentations, reinforce AbbVie’s commitment to research that helps advance standards of care for patients living with inflammatory bowel diseases.

Data from ADVANCE, MOTIVATE and FORTIFY studies highlighting efficacy outcomes and clinical response in patients receiving SKYRIZI for treatment of moderately to severely active Crohn’s disease.

The results of the trading session contributed to over 6828599 shares changing hands. Over the past one week, the price volatility of AbbVie Inc. stands at 1.76% while the volatility over the past one month is 1.75%.

The market cap for ABBV stock reached $271.84 billion, with 1.77 billion shares outstanding and 1.77 billion shares in the current float. Compared to the average trading volume of 5.63M shares, ABBV reached a trading volume of 6828599 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 $163.13 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 2.40. 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.

Wolfe Research have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on February 22, 2023. While these analysts kept the previous recommendation, SVB Securities raised their target price from $135 to $153. The new note on the price target was released on February 10, 2023, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $170, while Credit Suisse analysts kept a Outperform rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 2.85, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.68. The Price to Book ratio for the last quarter was 15.84, with the Price to Cash per share for the same quarter was set at 5.24. Price to Free Cash Flow for ABBV in the course of the last twelve months was 19.14 with Quick ratio for the last quarter at 0.80.

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 1.96. With this latest performance, ABBV shares gained by 4.67% in over the last four-week period, additionally plugging by 10.73% over the last 6 months – not to mention a rise of 6.20% 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 58.37, with the RSI for the last a single of trading hit 64.79, and the three-weeks RSI is set at 54.55 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 154.25, while it was recorded at 152.35 for the last single week of trading, and 149.01 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 +38.93 and a Gross Margin at +71.67. AbbVie Inc.’s Net Margin is presently recorded at +20.29.

Return on Equity for this stock inclined to 72.15, with Return on Assets sitting at 8.26.

AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

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 -2.50%.

Insider trade positions for AbbVie Inc. [ABBV]

There are presently around $192,204 million, or 70.90% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 158,317,552, which is approximately 1.471% of the company’s market cap and around 0.12% of the total institutional ownership; BLACKROCK INC., holding 138,702,758 shares of the stock with an approximate value of $21.4 billion in ABBV stocks shares; and STATE STREET CORP, currently with $12.04 billion in ABBV stock with ownership of nearly 0.752% of the company’s market capitalization.

Positions in AbbVie Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 1,541 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 55,773,872 shares. Additionally, 1,390 investors decreased positions by around 35,550,416 shares, while 356 investors held positions by with 1,154,488,411 shares. The mentioned changes placed institutional holdings at 1,245,812,699 shares, according to the latest SEC report filing. ABBV stock had 325 new institutional investments in for a total of 9,456,134 shares, while 97 institutional investors sold positions of 4,852,354 shares during the same period.


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