Vice Chairman SEVERINO MICHAEL sold 79,801 shares of AbbVie Inc. [ABBV]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. AbbVie Inc. shares valued at $12,041,780 were sold by SEVERINO MICHAEL on May 23. At $150.90 per share, SEVERINO MICHAEL sold 79,801 shares. The insider’s holdings dropped to 152,103 shares worth approximately $21.34 million following the completion of this transaction.

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Also, SEVERINO MICHAEL sold 100,000 shares, netting a total of over 15,404,400 in proceeds. Following the sale of shares at $154.04 each, the insider now holds 152,103 shares.

Before that, Gosebruch Henry O had sold 83,960 shares from its account. In a trade valued at $13,013,800, the EVP, Chief Strategy Officer traded AbbVie Inc. shares for $155.00 each. Upon closing the transaction, the insider’s holdings decreased to 83,960 shares, worth approximately $2.33 million.

As published in a research note from Atlantic Equities on August 01, 2022, AbbVie Inc. [ABBV] has been rated down from an Overweight to a Neutral and the price target has been revised to $162 from $178. This represents a 13.39% premium over Wednesday’s closing price. Analysts at SVB Leerink started covering the stock with ‘”an Underperform”‘ outlook in a report released in late May. As of May 06, 2022, Daiwa Securities has decreased its “an Outperform” rating to a “Neutral” for ABBV.

Analyzing ABBV’s Price Performance

On Wednesday, AbbVie Inc. [NYSE: ABBV] plunged -1.03% to $140.31. The stock’s lowest price that day was $140.29, but it reached a high of $143.6282 in the same session. During the last five days, there has been a surge of approximately 0.54%. Over the course of the year, AbbVie Inc. shares have jumped approximately 3.63%. Shares of the company reached a 52-week high of $175.91 on 04/08/22 and a 52-week low of $128.26 on 01/24/22. A 50-day SMA is recorded $142.45, while a 200-day SMA reached $145.67. Nevertheless, trading volume fell to 5.05 million shares from 4.53 million shares the previous day.

Support And Resistance Levels for AbbVie Inc. (ABBV)

According to the 24-hour chart, there is a support level at 139.19, which, if violated, would cause prices to drop to 138.07. In the upper region, resistance lies at 142.53. The next price resistance is at 144.75. RSI (Relative Strength Index) is 48.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.25, which suggests the price will increase in the coming days. Percent R is at 42.23%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is AbbVie Inc. subject to short interest?

Stocks of AbbVie Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.51 million shares to 14.03 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.52 million shares. A jump of 3.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.22 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.22.

Which companies own the most shares of AbbVie Inc. (ABBV)?

According to The Vanguard Group, Inc. filings, the company currently owns 146,064,918 shares, which is about 8.26% of the total ABBV shares outstanding. The investor’s shares have appreciated by 2,890,797 from its previous 13-F filing of 143174121.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $11,443,100,513. SSgA Funds Management, Inc. reduced a -1.18% interest valued at $10.37 billion while Capital Research & Management Co purchased a 12,657,354 stake. A total of 1,632,147 shares of AbbVie Inc. were bought by JPMorgan Investment Management, I during the quarter, and -5,924,329 were sold by T. Rowe Price Associates, Inc. In its current portfolio, Geode Capital Management LLC holds 30,081,427 shares valued at $4.04 billion.

In terms of AbbVie Inc. share price expectations, FactSet research, analysts set an average price target of $159.25 in the next 12 months, up nearly 10.04% from the previous closing price of $141.77. Analysts anticipate AbbVie Inc. stock to reach $200.00 by 2022, with the lowest price target being $135.00. In spite of this, 24 analysts ranked AbbVie Inc. stock as an Overweight at the end of 2022. On February 28, 2022, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $147.


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