Could AbbVie Inc. (ABBV) Change Direction After Achieving 52-Week High?

January 20, 2018 - By Darrin Black

Investors sentiment decreased to 0.85 in 2017 Q3. Its down 0.15, from 1 in 2017Q2. It worsened, as 55 investors sold AbbVie Inc. shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported.
Nikko Asset Americas Inc invested in 7,800 shares. Mariner Wealth Advisors Limited Co has 0.06% invested in AbbVie Inc. (NYSE:ABBV) for 13,870 shares. Ssi Invest Management holds 0.03% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 3,944 shares. Hall Laurie J Trustee stated it has 2.89% in AbbVie Inc. (NYSE:ABBV). Peoples Fincl holds 24,280 shares. Inr Advisory Services Llc holds 698 shares or 0.01% of its portfolio. Cap Planning Advsrs Ltd Liability Corporation reported 5,413 shares. 1St Source Comml Bank owns 0.18% invested in AbbVie Inc. (NYSE:ABBV) for 23,813 shares. Hite Hedge Asset Mngmt Lc reported 2,560 shares stake. Fundx Invest Gp Ltd Com invested in 0.71% or 19,000 shares. Interocean Capital Limited Co reported 10,417 shares stake. California-based Wealthfront has invested 0.08% in AbbVie Inc. (NYSE:ABBV). Alliancebernstein Limited Partnership invested in 5.47M shares or 0.36% of the stock. 14,316 were reported by Gilman Hill Asset Mngmt Limited Liability Co. 2.69 million are held by California State Teachers Retirement Systems.

Since July 31, 2017, it had 0 buys, and 8 sales for $45.57 million activity. Another trade for 6,699 shares valued at $589,512 was sold by Michael Robert A.. $1.66M worth of stock was sold by Gosebruch Henry O on Monday, October 30. GONZALEZ RICHARD A had sold 87,899 shares worth $6.24 million. Schumacher Laura J also sold $14.07 million worth of AbbVie Inc. (NYSE:ABBV) on Thursday, December 14. 8,300 shares were sold by SALEKI-GERHARDT AZITA, worth $705,655.

The stock of AbbVie Inc. (NYSE:ABBV) hit a new 52-week high and has $111.96 target or 7.00 % above today’s $104.64 share price. The 5 months bullish chart indicates low risk for the $167.05B company. The 1-year high was reported on Jan, 20 by If the $111.96 price target is reached, the company will be worth $11.69 billion 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 increased 0.80% or $0.83 during the last trading session, reaching $104.64. About 4.99M shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since January 20, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on January, 26. They expect $1.43 earnings per share, up 19.17 % or $0.23 from last year’s $1.2 per share. ABBV’s profit will be $2.28B for 18.29 P/E if the $1.43 EPS becomes a reality. After $1.41 actual earnings per share reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 1.42 % EPS growth.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc has $130.0 highest and $6 lowest target. $83.78’s average target is -19.94% below currents $104.64 stock price. Abbvie Inc had 71 analyst reports since July 21, 2015 according to SRatingsIntel. Cowen & Co upgraded the shares of ABBV in report on Wednesday, October 11 to “Outperform” rating. The rating was maintained by Goldman Sachs on Friday, March 10 with “Buy”. The stock of AbbVie Inc. (NYSE:ABBV) earned “Neutral” rating by UBS on Friday, October 13. The firm earned “Market Perform” rating on Monday, June 6 by Cowen & Co. The stock of AbbVie Inc. (NYSE:ABBV) earned “Equal-Weight” rating by Barclays Capital on Tuesday, December 1. The rating was upgraded by Morgan Stanley on Monday, November 2 to “Overweight”. The firm earned “Buy” rating on Monday, November 20 by Cowen & Co. The rating was maintained by BMO Capital Markets with “Hold” on Friday, April 28. The stock of AbbVie Inc. (NYSE:ABBV) earned “Hold” rating by Credit Suisse on Thursday, July 20. The firm earned “Buy” rating on Tuesday, December 5 by Leerink Swann.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: which released: “Can AbbVie (ABBV) Stock Keep the Momentum Alive in 2018?” on January 04, 2018, also with their article: “Key events next week – healthcare” published on January 19, 2018, published: “AbbVie Inc. (ABBV) Ex-Dividend Date Scheduled for January 11, 2018” on January 10, 2018. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: and their article: “AbbVie Inc Dividend at Risk Amid Patent Protection Problems” published on December 29, 2017 as well as‘s news article titled: “Here’s How AbbVie Inc. Crushed It in 2017” with publication date: December 23, 2017.

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company has market cap of $167.05 billion. The firm offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C. It has a 25.42 P/E ratio. It also provides Kaletra, an anti- human immunodeficiency virus-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in HIV-1 patients; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1; and Synagis to prevent RSV infection at-risk infants.

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