AbbVie Inc. (ABBV) may enjoy gains as insiders got busy in the recent days

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AbbVie Inc.’s filing revealed that its Vice Chairman SEVERINO MICHAEL unloaded Company’s shares for reported $12.04 million on May 23. In the deal valued at $150.90 per share,79,801 shares were sold. As a result of this transaction, SEVERINO MICHAEL now holds 152,103 shares worth roughly $ 22.1 million.


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Then, SEVERINO MICHAEL sold 100,000 shares, generating $15,404,400 in total proceeds. Upon selling the shares at $154.04, the Vice Chairman now owns 152,103 shares.

Before that, Gosebruch Henry O sold 83,960 shares. AbbVie Inc. shares valued at $13,013,800 were divested by the EVP, Chief Strategy Officer at a price of $155.00 per share. As a result of the transaction, Gosebruch Henry O now holds 16,623 shares, worth roughly $2.41 million.

Atlantic Equities downgraded its AbbVie Inc. [ABBV] rating to a Neutral from a an Overweight in a research note published on Friday, August 01, 2022; the price target was decreased to $162 from $178. PT values the company’s stock at a premium of 10.32 to its Friday closing price. A number of analysts have revised their coverage, including SVB Leerink’s analysts, who began to cover the stock in late May with a ‘”an Underperform”‘ rating. Daiwa Securities also remained covering ABBV and has decreased its forecast on May 06, 2022 with a “Neutral” recommendation from previously “an Outperform” rating.

Price Performance Review of ABBV

On Friday, AbbVie Inc. [NYSE:ABBV] saw its stock jump 0.60% to $145.28. On the same session, the stock had its day’s lowest price of $143.08, but rose to a high of $145.58. Over the last five days, the stock has lost -1.58%. AbbVie Inc. shares have risen nearly 7.30% since the year began. Nevertheless, the stocks have risen 24.11% over the past one year. While a 52-week high of $175.91 was reached on 04/08/22, a 52-week low of $115.01 was recorded on 01/24/22. SMA at 50 days reached $142.19, while 200 days put it at $147.57. A total of 4.62 million shares were traded, compared to the trading of 3.85 million shares in the previous session.

Levels Of Support And Resistance For ABBV Stock

The 24-hour chart illustrates a support level at 143.71, which if violated will result in even more drops to 142.15. On the upside, there is a resistance level at 146.21. A further resistance level may holdings at 147.15. The Relative Strength Index (RSI) on the 14-day chart is 50.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.57%. Stochastics %K at 21.76% indicates the stock is a holding.

How much short interest is there in AbbVie Inc.?

A steep rise in short interest was recorded in AbbVie Inc. stocks on Jul 14, 2022, growing by 0.51 million shares to a total of 14.03 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 13.52 million shares. There was a rise of 3.64%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.22.

AbbVie Inc. [ABBV] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 146,064,918 shares, or roughly 8.26% of the outstanding ABBV shares. In other words, the investor’s shares have risen by 2,890,797 from its previous 13-F filing of 143174121.0. Additionally, BlackRock Fund Advisors increased 5.43% of its stake after which the total value it holdings stand at $11,421,824,482, while SSgA Funds Management, Inc. reduced -1.18% of its stake to hold $10.35 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 12,657,354 shares of AbbVie Inc., while JPMorgan Investment Management, I bought 1,632,147 shares. At present, T. Rowe Price Associates, Inc. is holding 30,807,798 shares valued at $4.13 billion. Geode Capital Management LLC owned 30,081,427 shares of the company at the time of its most recent 13F filing, worth $4.04 billion.

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