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AbbVie Inc. (ABBV) – Don’t Believe the Hype: Check The Facts

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 0.92%. 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 142.56 million shares valued at $15.28 billion. The investor’s holdings represent 8.08% 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 78.16 million shares representing 4.43% and valued at over $8.38 billion, while Capital Research Global Investors holds 2.15% of the shares totaling 37.92 million with a market value of $4.06 billion.

AbbVie Inc. (NYSE: ABBV) is -0.39% lower on its value in year-to-date trading and has touched a low of $70.71 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 $105.98 in the last trading session, with the day’s gains setting it 0.75% off its average median price target of $124.00 for the next 12 months. It is also 23.76% off the consensus price target high of $140.00 offered by 23 analysts, but current levels are -10.03% lower than the price target low of $97.00 for the same period.

Currently trading at $106.73, the stock is 0.25% and -0.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.39 million and changing 0.71% at the moment leaves the stock 8.25% off its SMA200. ABBV registered 46.87% gain for a year compared to 6-month gain of 23.77%. The firm has a 50-day simple moving average (SMA 50) of $106.25 and a 200-day simple moving average (SMA200) of $99.87.

The stock witnessed a -0.94% loss in the last 1 month and extending the period to 3 months gives it a 3.36%, and is 0.78% 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 1.85% over the week and 1.82% over the month.

AbbVie Inc. (ABBV) has around 47000 employees, a market worth around $184.63B and $45.80B in sales. Current P/E ratio is 39.38 and Fwd P/E is 7.74. Profit margin for the company is 9.90%. Distance from 52-week low is 50.94% and -5.89% from its 52-week high. The company has generated returns on investments over the last 12 months (12.70%).

AbbVie Inc. (ABBV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for AbbVie Inc. (ABBV) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 3 think it is a “Overweight”. 14 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 $2.86 with sales reaching $12.84B over the same period.The EPS is expected to shrink by -48.50% this year, but quarterly earnings will post 20.80% year-over-year. Quarterly sales are estimated to grow 48.90% in year-over-year returns.

AbbVie Inc. (ABBV) Insider Activity

A total of 94 insider transactions have happened at AbbVie Inc. (ABBV) in the last six months, with sales accounting for 41 and purchases happening 53 times. The most recent transaction is an insider sale by RICHMOND TIMOTHY J., the company’s EVP, Chief HR Officer. SEC filings show that RICHMOND TIMOTHY J. sold 19,514 shares of the company’s common stock on Mar 01 at a price of $108.59 per share for a total of $2.12 million. Following the sale, the insider now owns 0.0 shares.

AbbVie Inc. disclosed in a document filed with the SEC on Mar 01 that Sorg Elaine K. (SVP, US Commercial Operations) sold a total of 8,440 shares of the company’s common stock. The trade occurred on Mar 01 and was made at $108.61 per share for $0.92 million. Following the transaction, the insider now directly holds 17595.0 shares of the ABBV stock.

Still, SEC filings show that on Mar 01, GONZALEZ RICHARD A (Chairman of the Board and CEO) disposed off 170,113 shares at an average price of $108.61 for $18.48 million. The insider now directly holds 376,597 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 38.95% up over the past 12 months and AstraZeneca PLC (AZN) that is 19.64% higher over the same period. Biogen Inc. (BIIB) is -9.46% down on the 1-year trading charts. Short interest in the company’s stock has risen 11.85% from the last report on Feb 11, 2021 to stand at a total of 14.28 million short shares sold with a short interest ratio of 2.44.

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