The stock of AbbVie Inc (NYSE:ABBV) is a huge mover today! About 1.40 million shares traded hands. AbbVie Inc (NYSE:ABBV) has declined 2.41% since April 26, 2016 and is downtrending. It has underperformed by 7.67% the S&P500.
The move comes after 6 months positive chart setup for the $97.43B company. It was reported on Nov, 29 by Barchart.com. We have $62.84 PT which if reached, will make NYSE:ABBV worth $2.92B more.
Analysts await AbbVie Inc (NYSE:ABBV) to report earnings on February, 3. They expect $1.20 earnings per share, up 6.19% or $0.07 from last year’s $1.13 per share. ABBV’s profit will be $1.92B for 12.70 P/E if the $1.20 EPS becomes a reality. After $1.21 actual earnings per share reported by AbbVie Inc for the previous quarter, Wall Street now forecasts -0.83% negative EPS growth.
AbbVie Inc (NYSE:ABBV) Ratings Coverage
Out of 17 analysts covering Abbvie Inc (NYSE:ABBV), 6 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 35% are positive. Abbvie Inc has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Atlantic Securities on Friday, December 18. The firm has “Market Perform” rating by Cowen & Co given on Monday, June 6. The rating was downgraded by Goldman Sachs on Monday, March 7 to “Buy”. The stock of AbbVie Inc (NYSE:ABBV) earned “Buy” rating by UBS on Friday, October 23. The firm has “Neutral” rating by Citigroup given on Monday, November 28. The company was initiated on Friday, September 2 by Raymond James. The stock has “Buy” rating given by SunTrust on Wednesday, July 22. The firm has “Neutral” rating given on Monday, October 31 by Credit Suisse. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, June 10. As per Thursday, September 8, the company rating was downgraded by JP Morgan.
According to Zacks Investment Research, “AbbVie is a global, research-based biopharmaceutical company. AbbVie combines the focus and passion of a leading-edge biotech with the expertise and structure of a long-established pharmaceutical leader. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie aims to help patients’ live healthier lives and collaborate on sustainable healthcare solutions.”
Insitutional Activity: The institutional sentiment increased to 1.03 in 2016 Q2. Its up 0.17, from 0.86 in 2016Q1. The ratio increased, as 86 funds sold all AbbVie Inc shares owned while 593 reduced positions. 75 funds bought stakes while 508 increased positions. They now own 1.06 billion shares or 1.95% less from 1.08 billion shares in 2016Q1.
Natixis holds 66,889 shares or 0.08% of its portfolio. The Illinois-based Savant Cap Lc has invested 1.13% in AbbVie Inc (NYSE:ABBV). Barton Invest Mgmt last reported 9,828 shares in the company. Daniel Devine And has invested 1.95% of its portfolio in AbbVie Inc (NYSE:ABBV). Redwood Investments Limited Liability Co holds 74 shares or 0% of its portfolio. Victory Cap owns 94,780 shares or 0.02% of their US portfolio. Winfield Associates Incorporated, a Ohio-based fund reported 1,919 shares. Stralem accumulated 7,675 shares or 0.05% of the stock. Montag A And Associate has invested 0.58% of its portfolio in AbbVie Inc (NYSE:ABBV). Moreover, Marietta Inv Partners Limited Liability Corporation has 0.76% invested in AbbVie Inc (NYSE:ABBV) for 34,572 shares. Perceptive Advsr Lc has 0.01% invested in the company for 1,250 shares. Mogy Joel R Invest Counsel last reported 73,066 shares in the company. Benin Mgmt holds 0.27% of its portfolio in AbbVie Inc (NYSE:ABBV) for 8,462 shares. Pekin Singer Strauss Asset Il owns 53,231 shares or 0.72% of their US portfolio. Moreover, Cibc Asset Mgmt Inc has 0.11% invested in AbbVie Inc (NYSE:ABBV) for 227,056 shares.
Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 2 selling transactions for $3.44 million net activity. On Wednesday, September 7 the insider Schumacher Laura J sold $3.25M. The insider HURWICH THOMAS A. sold $192,200. Shares for $18.25 million were sold by GONZALEZ RICHARD A on Thursday, June 2.
More news for AbbVie Inc (NYSE:ABBV) were recently published by: Fool.com, which released: “Better Buy: AbbVie Inc. vs. GlaxoSmithKline PLC” on November 18, 2016. Valuewalk.com‘s article titled: “Dividend Aristocrats In Focus Part 28: AbbVie Inc (ABBV)” and published on November 03, 2016 is yet another important article.
ABBV Company Profile
AbbVie Inc. (AbbVie), incorporated on April 10, 2012, is a research biopharmaceutical company. The Firm develops and markets therapies that address a range of diseases. The Firm operates in pharmaceutical products segment. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions. AbbVie also has a pipeline of new medicines, including over 50 compounds or indications in clinical development across medical specialties, such as immunology, virology/liver disease, oncology, neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA, IMBRUVICA, HCV products, additional virology products, metabolics/hormones products, endocrinology products and other products.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.