New Big Money Means AbbVie Inc. (ABBV) Investors Could Reap Benefit

2,979 institutions hold shares in AbbVie Inc. (ABBV), with 1.77M shares held by insiders accounting for 0.10% while institutional investors hold 70.07% of the company’s shares. The shares outstanding are 1.77B, and float is at 1.76B with Short Float at 0.84%. Institutions hold 70.00% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 144.33 million shares valued at $12.64 billion. The investor’s holdings represent 8.18% of the ABBV Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 124.42 million shares valued at $13.33 billion to account for 7.05% of the shares outstanding. The other top investors are State Street Corporation which holds 78.21 million shares representing 4.43% and valued at over $6.85 billion, while Capital Research Global Investors holds 2.31% of the shares totaling 40.8 million with a market value of $3.57 billion.

AbbVie Inc. (NYSE: ABBV) is -2.00% lower on its value in year-to-date trading and has touched a low of $62.55 and a high of $113.41 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ABBV stock was last observed hovering at around $106.06 in the last trading session, with the day’s loss setting it -1.05% off its average median price target of $122.00 for the next 12 months. It is also 24.99% off the consensus price target high of $140.00 offered by 20 analysts, but current levels are -8.26% lower than the price target low of $97.00 for the same period.

Currently trading at $105.01, the stock is -1.02% and -1.35% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.7 million and changing -0.99% at the moment leaves the stock 8.80% off its SMA200. ABBV registered 11.44% gain for a year compared to 6-month gain of 9.27%. The firm has a 50-day simple moving average (SMA 50) of $107.17 and a 200-day simple moving average (SMA200) of $97.56.

The stock witnessed a -6.76% loss in the last 1 month and extending the period to 3 months gives it a 5.85%, and is 1.21% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.80% over the week and 2.19% over the month.

AbbVie Inc. (ABBV) has around 47000 employees, a market worth around $187.25B and $40.65B in sales. Current P/E ratio is 22.96 and Fwd P/E is 7.64. Profit margin for the company is 17.00%. Distance from 52-week low is 67.88% and -7.41% from its 52-week high. The company has generated returns on investments over the last 12 months (21.50%).

AbbVie Inc. (ABBV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for AbbVie Inc. (ABBV) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 2 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

AbbVie Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $2.79 with sales reaching $12.82B over the same period.The EPS is expected to grow by 17.70% this year, but quarterly earnings will post 20.90% year-over-year. Quarterly sales are estimated to grow 48.70% in year-over-year returns.

AbbVie Inc. (ABBV) Insider Activity

A total of 25 insider transactions have happened at AbbVie Inc. (ABBV) in the last six months, with sales accounting for 18 and purchases happening 7 times. The most recent transaction is an insider sale by Stewart Jeffrey Ryan, the company’s EVP, Commercial Operations. SEC filings show that Stewart Jeffrey Ryan sold 25,290 shares of the company’s common stock on Dec 29 at a price of $105.00 per share for a total of $2.66 million. Following the sale, the insider now owns 50969.0 shares.

AbbVie Inc. disclosed in a document filed with the SEC on Nov 27 that RICHMOND TIMOTHY J. (EVP, Chief HR Officer) sold a total of 51,990 shares of the company’s common stock. The trade occurred on Nov 27 and was made at $105.00 per share for $5.46 million. Following the transaction, the insider now directly holds 0.0 shares of the ABBV stock.

Still, SEC filings show that on Nov 20, Gosebruch Henry O (EVP, Chief Strategy Officer) disposed off 40,000 shares at an average price of $99.38 for $3.98 million. The insider now directly holds 20,006 shares of AbbVie Inc. (ABBV).

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AbbVie Inc. (ABBV): Who are the competitors?

The company’s main competitors (and peers) include Eli Lilly and Company (LLY) that is trading 41.49% up over the past 12 months. Biogen Inc. (BIIB) is -18.38% down on the 1-year trading charts. Short interest in the company’s stock has risen 10.36% from the last report on Dec 30, 2020 to stand at a total of 13.33 million short shares sold with a short interest ratio of 1.99.

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