AbbVie Inc (ABBV)’s Stock Is Buy After Touching Record High

September 17, 2017 - By Marry Poplack

Investors sentiment decreased to 0.98 in Q4 2016. Its down 0.05, from 1.03 in 2016Q3. It is negative, as 86 investors sold AbbVie Inc shares while 555 reduced holdings. 99 funds opened positions while 531 raised stakes. 1.03 billion shares or 0.70% less from 1.04 billion shares in 2016Q3 were reported.
Balyasny Asset Mngmt Ltd Liability has 0% invested in AbbVie Inc (NYSE:ABBV) for 5,100 shares. Brookstone holds 0.59% of its portfolio in AbbVie Inc (NYSE:ABBV) for 85,590 shares. Milestone Grp Inc has invested 0.04% in AbbVie Inc (NYSE:ABBV). Gofen & Glossberg Limited Liability Il owns 0.55% invested in AbbVie Inc (NYSE:ABBV) for 215,687 shares. Seaward L P holds 0.58% of its portfolio in AbbVie Inc (NYSE:ABBV) for 174,752 shares. 1.48M were reported by Chevy Chase Trust Hldg. Moreover, First Citizens Bancorp Trust has 0.58% invested in AbbVie Inc (NYSE:ABBV) for 84,864 shares. Moreover, Reliance Tru Company Of Delaware has 0.28% invested in AbbVie Inc (NYSE:ABBV) for 29,809 shares. Brandywine Tru Company stated it has 220,821 shares or 9.41% of all its holdings. Stephens Ar stated it has 0.75% of its portfolio in AbbVie Inc (NYSE:ABBV). Pittenger & Anderson has 12,285 shares. Greenleaf Tru reported 36,788 shares. Aviance Capital Prtnrs Lc holds 0.8% or 36,264 shares. Motco invested in 36,536 shares or 0.26% of the stock. Stock Yards Bancorp And Trust reported 41,542 shares or 0.34% of all its holdings.

Since May 4, 2017, it had 0 insider purchases, and 5 selling transactions for $18.84 million activity. On Thursday, May 18 the insider CHASE WILLIAM J sold $2.50M. 43,000 shares valued at $2.88 million were sold by ALBAN CARLOS on Thursday, May 4. Schumacher Laura J sold $5.59 million worth of AbbVie Inc (NYSE:ABBV) on Wednesday, June 14.

The stock of AbbVie Inc (NYSE:ABBV) reached all time high today, Sep, 17 and still has $90.86 target or 4.00 % above today’s $87.37 share price. This indicates more upside for the $139.28B company. This technical setup was reported by Barchart.com. If the $90.86 PT is reached, the company will be worth $5.57 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock decreased 2.07% or $1.85 on September 15, reaching $87.37. About 20.44 million shares traded or 214.46% up from the average. AbbVie Inc (NYSE:ABBV) has risen 10.63% since September 17, 2016 and is uptrending. It has underperformed by 6.07% the S&P500.

Wall Street await AbbVie Inc (NYSE:ABBV) to release earnings on October, 27. Analysts forecast EPS of $1.37, up exactly $0.16 or 13.22 % from 2014’s $1.21 EPS. The expected ABBV’s profit could reach $2.18B giving the stock 15.94 P/E in the case that $1.37 earnings per share is reported. After posting $1.42 EPS for the previous quarter, AbbVie Inc’s analysts now forecast -3.52 % negative EPS growth.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Among 20 analysts covering Abbvie Inc (NYSE:ABBV), 9 have Buy rating, 1 Sell and 10 Hold. Therefore 45% are positive. Abbvie Inc had 50 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, June 8. The firm has “Neutral” rating by Citigroup given on Monday, November 28. Jefferies maintained AbbVie Inc (NYSE:ABBV) rating on Friday, August 18. Jefferies has “Buy” rating and $94.0 target. On Wednesday, April 6 the stock rating was initiated by Societe Generale with “Sell”. The firm has “Hold” rating given on Tuesday, March 15 by Deutsche Bank. The firm has “Buy” rating given on Tuesday, August 11 by TheStreet. The stock of AbbVie Inc (NYSE:ABBV) has “Buy” rating given on Monday, May 29 by Jefferies. The stock of AbbVie Inc (NYSE:ABBV) earned “Equal-Weight” rating by Barclays Capital on Tuesday, December 1. The firm has “Hold” rating given on Thursday, July 20 by Credit Suisse. The stock has “Market Perform” rating by Cowen & Co on Monday, June 6.

More notable recent AbbVie Inc (NYSE:ABBV) news were published by: Seekingalpha.com which released: “Market Finally Realizing AbbVie’s Value” on September 13, 2017, also Reuters.com with their article: “AbbVie says deaths in arthritis trial not linked to drug” published on September 11, 2017, Seekingalpha.com published: “AbbVie: Bullish Institutional Buying To Send The Stock Higher” on September 14, 2017. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Seekingalpha.com and their article: “AbbVie Inc: Ain’t Broke, Don’t Fix” published on August 21, 2017 as well as Seekingalpha.com‘s news article titled: “AbbVie: Not For The Faint Of Heart” with publication date: September 12, 2017.

AbbVie Inc. is a research-based biopharmaceutical company. The company has market cap of $139.28 billion. The Firm is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. It has a 21.34 P/E ratio. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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.