Abbvie Inc’s recent filing unveils that its EVP, CHIEF BUS/STRAT OFFICER Donoghoe Nicholas unloaded Company’s shares for reported $3.72 million on Mar 20 ’24. In the deal valued at $176.30 per share,21,082 shares were sold. As a result of this transaction, Donoghoe Nicholas now holds 55,903 shares worth roughly $9.5 million.
Then, Stewart Jeffrey Ryan sold 58,949 shares, generating $10,539,508 in total proceeds. Upon selling the shares at $178.79, the EVP, CHIEF COMMERCIAL OFFICER now owns 60,941 shares.
Before that, RICHMOND TIMOTHY J. sold 75,680 shares. Abbvie Inc shares valued at $13,415,503 were divested by the EVP, CHIEF HR OFFICER at a price of $177.27 per share. As a result of the transaction, RICHMOND TIMOTHY J. now holds 13,837 shares, worth roughly $2.35 million.
William Blair upgraded its Abbvie Inc [ABBV] rating to an Outperform from a a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Hold”. Goldman also remained covering ABBV and has increased its forecast on December 11, 2023 with a “Buy” recommendation from previously “Neutral” rating. Deutsche Bank started covering the stock on November 09, 2023. It rated ABBV as “a Hold”.
Price Performance Review of ABBV
On Friday, Abbvie Inc [NYSE:ABBV] saw its stock jump 1.25% to $170.00. Over the last five days, the stock has lost -6.64%. Abbvie Inc shares have risen nearly 9.70% since the year began. Nevertheless, the stocks have risen 6.40% over the past one year. While a 52-week high of $182.89 was reached on 03/12/24, a 52-week low of $130.96 was recorded on 01/02/24. SMA at 50 days reached $175.64, while 200 days put it at $154.51. A total of 7.03 million shares were traded, compared to the trading of 10.54 million shares in the previous session.
Levels Of Support And Resistance For ABBV Stock
The 24-hour chart illustrates a support level at 167.85, which if violated will result in even more drops to 165.69. On the upside, there is a resistance level at 171.60. A further resistance level may holdings at 173.19. The Relative Strength Index (RSI) on the 14-day chart is 36.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.95%. Stochastics %K at 15.15% indicates the stock is a buying.
How much short interest is there in Abbvie Inc?
A steep rise in short interest was recorded in Abbvie Inc stocks on Mar 15, 2024, dropping by 60000.0 shares to a total of 14.69 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 14.75 million shares. There was a decline of -0.41%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.43.
