Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $8.92 million following the completion of this transaction.
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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 $2.21 million.
As published in their initiating research note from Cantor Fitzgerald on May 17, 2024, Abbvie Inc [ABBV] has been an Overweight and the price target has been revised to $200. Analysts at William Blair upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late January. As of December 18, 2023, HSBC Securities has decreased its “Buy” rating to a “Hold” for ABBV. Earlier on December 11, 2023, Goldman upgraded its rating. Their new recommendation was “a Buy” for ABBV stock which previously was a “a Neutral”.
Analyzing ABBV Stock Performance
During the last five days, there has been a drop of approximately -2.55%. Over the course of the year, Abbvie Inc shares have jumped approximately 2.99%. 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 $168.77, while a 200-day SMA reached $158.50. Nevertheless, trading volume fell to 6.9 million shares from 3.65 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 158.55, which, if violated, would cause prices to drop to 157.48. In the upper region, resistance lies at 161.31. The next price resistance is at 163.00. RSI (Relative Strength Index) is 38.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 94.12%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
