why AbbVie Inc. [ABBV] is a Good Choice for Investors After New Price Target of $163.22

AbbVie Inc. [NYSE: ABBV] slipped around -2.35 points on Tuesday, while shares priced at $152.93 at the close of the session, down -1.51%. The company report on February 28, 2023 that AbbVie to Present at the Cowen 43rd Annual Health Care Conference.

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AbbVie (NYSE: ABBV) will participate in the Cowen 43rd Annual Health Care Conference on Tuesday, March 7, 2023. Robert A. Michael, vice chairman and president, Scott Reents, executive vice president, chief financial officer, Jeffrey R. Stewart, executive vice president, chief commercial officer and Roopal Thakkar, senior vice president, development and regulatory affairs and chief medical officer, will present at 8:10 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.

AbbVie Inc. stock is now -5.37% down from its year-to-date (YTD) trading value. ABBV Stock saw the intraday high of $155.67 and lowest of $152.05 per share. The company’s 52-week high price is 175.91, which means current price is +6.62% above from all time high which was touched on 01/06/23.

Compared to the average trading volume of 5.67M shares, ABBV reached a trading volume of 4606175 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 $163.22 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.

Guggenheim have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2023. The new note on the price target was released on February 22, 2023, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise from $135 to $153, while SVB Securities kept a Market Perform rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 2.69, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.61. The Price to Book ratio for the last quarter was 15.70, with the Price to Cash per share for the same quarter was set at 5.27. Price to Free Cash Flow for ABBV in the course of the last twelve months was 18.84 with Quick ratio for the last quarter at 0.80.

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 -0.63. With this latest performance, ABBV shares gained by 5.32% in over the last four-week period, additionally plugging by 12.22% over the last 6 months – not to mention a rise of 1.57% 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 51.31, with the RSI for the last a single of trading hit 50.40, and the three-weeks RSI is set at 50.64 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 153.35, while it was recorded at 154.78 for the last single week of trading, and 149.04 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 $190,522 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 $21.21 billion in ABBV stocks shares; and STATE STREET CORP, currently with $11.94 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 55,570,404 shares. Additionally, 1,391 investors decreased positions by around 35,583,627 shares, while 357 investors held positions by with 1,154,655,063 shares. The mentioned changes placed institutional holdings at 1,245,809,094 shares, according to the latest SEC report filing. ABBV stock had 326 new institutional investments in for a total of 9,382,129 shares, while 97 institutional investors sold positions of 4,852,354 shares during the same period.


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