AbbVie Inc (ABBV) Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

September 17, 2017 - By Marry Poplack

Investors sentiment decreased to 0.98 in 2016 Q4. 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.
Provident Tru Company has invested 0.06% in AbbVie Inc (NYSE:ABBV). Rockefeller Fincl Ser Incorporated accumulated 99,961 shares. Bedell Frazier Counseling Limited Liability Com owns 83,395 shares for 2.05% of their portfolio. Scotia Capital invested in 107,288 shares or 0.11% of the stock. Meiji Yasuda Asset Mngmt Company Limited holds 79,892 shares. 12,367 were accumulated by Jnba Fincl Advisors. Pictet North America Advisors accumulated 3,766 shares. Braver Wealth Management Llc owns 101,589 shares or 1.03% of their US portfolio. Balyasny Asset Mgmt Ltd accumulated 0% or 5,100 shares. The Connecticut-based Bradley Foster & Sargent Incorporated Ct has invested 0.45% in AbbVie Inc (NYSE:ABBV). Badgley Phelps And Bell holds 3,227 shares. Gotham Asset Limited has 0.75% invested in AbbVie Inc (NYSE:ABBV). Forbes J M & Limited Liability Partnership owns 97,508 shares or 1.68% of their US portfolio. Gabelli Funds Ltd Liability Corp holds 107,200 shares. South Dakota Inv Council holds 183,603 shares.

Since May 4, 2017, it had 0 insider purchases, and 5 insider sales for $18.84 million activity. Another trade for 79,800 shares valued at $5.59M was made by Schumacher Laura J on Wednesday, June 14. ALBAN CARLOS sold $2.88M worth of stock. $4.67 million worth of AbbVie Inc (NYSE:ABBV) was sold by GONZALEZ RICHARD A.

The stock of AbbVie Inc (NYSE:ABBV) hit a new 52-week high and has $91.74 target or 5.00 % above today’s $87.37 share price. The 6 months bullish chart indicates low risk for the $139.28B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $91.74 price target is reached, the company will be worth $6.96B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

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.

Analysts await AbbVie Inc (NYSE:ABBV) to report earnings on October, 27. They expect $1.37 EPS, up 13.22 % or $0.16 from last year’s $1.21 per share. ABBV’s profit will be $2.18 billion for 15.94 P/E if the $1.37 EPS becomes a reality. After $1.42 actual EPS reported by AbbVie Inc for the previous quarter, Wall Street now forecasts -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 has $100.0 highest and $6 lowest target. $73.19’s average target is -16.23% below currents $87.37 stock price. Abbvie Inc had 50 analyst reports since July 21, 2015 according to SRatingsIntel. Leerink Swann initiated the stock with “Mkt Perform” rating in Tuesday, October 18 report. The firm has “Hold” rating by Deutsche Bank given on Tuesday, March 15. The rating was upgraded by TheStreet on Tuesday, August 11 to “Buy”. The firm has “Neutral” rating given on Friday, December 18 by Atlantic Securities. Credit Suisse downgraded AbbVie Inc (NYSE:ABBV) on Monday, October 31 to “Neutral” rating. Jefferies maintained it with “Buy” rating and $9400 target in Friday, July 14 report. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, June 8. The rating was initiated by Societe Generale on Wednesday, April 6 with “Sell”. The rating was maintained by Credit Suisse with “Hold” on Wednesday, June 7. The stock of AbbVie Inc (NYSE:ABBV) has “” rating given on Monday, September 28 by Citigroup.

More notable recent AbbVie Inc (NYSE:ABBV) news were published by: Fool.com which released: “The case for GlaxoSmithKline” on September 08, 2017, also Seekingalpha.com with their article: “AbbVie: Not For The Faint Of Heart” published on September 12, 2017, Seekingalpha.com published: “Market Finally Realizing AbbVie’s Value” on September 13, 2017. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Seekingalpha.com and their article: “AbbVie: Bullish Institutional Buying To Send The Stock Higher” published on September 14, 2017 as well as Nasdaq.com‘s news article titled: “AbbVie Inc. (ABBV) in Focus: Stock Moves 6.1% Higher” with publication date: September 08, 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.

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