The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Abbvie Inc shares valued at $3,716,757 were sold by Donoghoe Nicholas on Mar 20 ’24. At $176.30 per share, Donoghoe Nicholas sold 21,082 shares. The insider’s holdings dropped to 55,903 shares worth approximately $9.45 million following the completion of this transaction.
Also, Stewart Jeffrey Ryan sold 58,949 shares, netting a total of over 10,539,508 in proceeds. Following the sale of shares at $178.79 each, the insider now holds 60,941 shares.
Before that, RICHMOND TIMOTHY J. had sold 75,680 shares from its account. In a trade valued at $13,415,503, the EVP, CHIEF HR OFFICER traded Abbvie Inc shares for $177.27 each. Upon closing the transaction, the insider’s holdings decreased to 75,680 shares, worth approximately $2.34 million.
As published in a research note from William Blair on January 29, 2024, Abbvie Inc [ABBV] has been rated up from a Mkt perform to an Outperform. Analysts at HSBC Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid December. As of December 11, 2023, Goldman has increased its “Neutral” rating to a “Buy” for ABBV. Earlier on November 09, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for ABBV stock.
Analyzing ABBV Stock Performance
During the last five days, there has been a drop of approximately -4.68%. Over the course of the year, Abbvie Inc shares have jumped approximately 9.07%. Shares of the company reached a 52-week high of $182.89 on 03/12/24 and a 52-week low of $154.77 on 01/02/24. A 50-day SMA is recorded $175.95, while a 200-day SMA reached $155.00. Nevertheless, trading volume fell to 3.23 million shares from 5.93 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 167.61, which, if violated, would cause prices to drop to 166.18. In the upper region, resistance lies at 170.21. The next price resistance is at 171.38. RSI (Relative Strength Index) is 35.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.18, which suggests the price will decrease in the coming days. Percent R is at 88.41%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Abbvie Inc subject to short interest?
Stocks of Abbvie Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 60000.0 shares to 14.69 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 14.75 million shares. A decline of -0.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.43 of the overall float, the days-to-cover ratio (short ratio) decline to 2.43.
