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Positives for Abbvie Inc (ABBV) as stock gains in recent trading

Abbvie Inc (NYSE: ABBV) is 16.60% higher on its value in year-to-date trading and has touched a low of $130.96 and a high of $182.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ABBV stock was last observed hovering at around $180.76 in the last trading session, with the day’s loss setting it -0.07%.

Currently trading at $180.69, the stock is 0.73% and 3.27% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.52 million and changing -0.04% at the moment leaves the stock 17.51% off its SMA200. ABBV registered 14.42% gain for a year compared to 6-month gain of 21.22%. The firm has a 50-day simple moving average (SMA 50) of $6.75 and a 200-day simple moving average (SMA200) of $21.34.

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The stock witnessed a 0.99% loss in the last 1 month and extending the period to 3 months gives it a 16.60%, 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 1.15% over the week and 1.46% over the month.

Abbvie Inc (ABBV) has around 50000 employees, a market worth around $319.18B and $54.32B in sales. Current P/E ratio is 66.42 and Fwd P/E is 14.78. Profit margin for the company is 8.87%. Distance from 52-week low is 37.97% and -1.20% from its 52-week high. The company has generated returns on investments over the last 12 months (7.61%).

Abbvie Inc quarterly earnings per share for the current quarter are estimated at $2.33 with sales reaching $11.97B over the same period.The EPS is expected to grow by 0.62% this year, but quarterly earnings will post 0.40% year-over-year. Quarterly sales are estimated to shrink -2.10% in year-over-year returns.

Abbvie Inc (ABBV) Top Institutional Holders

4,056 institutions hold shares in Abbvie Inc (ABBV), with institutional investors hold 71.98% of the company’s shares. The shares outstanding are 1.77B, and float is at 1.76B with Short Float at 0.83%. Institutions hold 71.89% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 159.3 million shares valued at $21.46 billion. The investor’s holdings represent 9.03% of the ABBV Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 139.16 million shares valued at $18.75 billion to account for 7.88% of the shares outstanding. The other top investors are State Street Corporation which holds 78.18 million shares representing 4.43% and valued at over $10.53 billion, while JP Morgan Chase & Company holds 3.22% of the shares totaling 56.77 million with a market value of $7.65 billion.

Abbvie Inc (ABBV) Insider Activity

The most recent transaction is an insider sale by Donoghoe Nicholas,the company’sEVP, CHIEF BUS/STRAT OFFICER. SEC filings show that Donoghoe Nicholas sold 21,082 shares of the company’s common stock on Mar 20 ’24 at a price of $176.30 per share for a total of $3.72 million. Following the sale, the insider now owns 55903.0 shares.

Abbvie Inc disclosed in a document filed with the SEC on Mar 18 ’24 that Stewart Jeffrey Ryan (EVP, CHIEF COMMERCIAL OFFICER) sold a total of 58,949 shares of the company’s common stock. The trade occurred on Mar 18 ’24 and was made at $178.79 per share for $10.54 million. Following the transaction, the insider now directly holds 60941.0 shares of the ABBV stock.

Still, SEC filings show that on Mar 01 ’24, RICHMOND TIMOTHY J. (EVP, CHIEF HR OFFICER) disposed off 75,680 shares at an average price of $177.27 for $13.42 million. The insider now directly holds 13,837 shares of Abbvie Inc (ABBV).

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