AbbVie Inc. (NYSE:ABBV) Short Interest Update

AbbVie Inc. (NYSE:ABBV - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 14,480,000 shares, a growth of 6.9% from the April 15th total of 13,540,000 shares. Based on an average trading volume of 5,670,000 shares, the short-interest ratio is currently 2.6 days. Currently, 0.8% of the company's stock are sold short.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company's stock, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company's stock.

Institutional Trading of AbbVie

A number of large investors have recently made changes to their positions in the business. Manhattan West Asset Management LLC grew its stake in shares of AbbVie by 12.3% during the third quarter. Manhattan West Asset Management LLC now owns 3,034 shares of the company's stock valued at $439,000 after buying an additional 333 shares during the last quarter. Allworth Financial LP increased its stake in AbbVie by 15.0% in the 3rd quarter. Allworth Financial LP now owns 28,935 shares of the company's stock worth $4,313,000 after buying an additional 3,768 shares during the period. Baron Wealth Management LLC lifted its holdings in AbbVie by 5.9% during the 3rd quarter. Baron Wealth Management LLC now owns 1,690 shares of the company's stock valued at $252,000 after buying an additional 94 shares in the last quarter. Trust Co of Kansas boosted its position in AbbVie by 9.9% in the 3rd quarter. Trust Co of Kansas now owns 2,237 shares of the company's stock valued at $333,000 after buying an additional 201 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in AbbVie by 17.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 137,744 shares of the company's stock worth $20,532,000 after acquiring an additional 20,457 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABBV shares. William Blair raised shares of AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Barclays dropped their target price on AbbVie from $195.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday, April 29th. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, April 29th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, February 6th. Finally, Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.31.

AbbVie Price Performance

Shares of ABBV stock traded up $0.56 during trading hours on Thursday, hitting $164.35. The stock had a trading volume of 4,537,142 shares, compared to its average volume of 5,562,631. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market capitalization of $290.22 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 2.04 and a beta of 0.61. AbbVie has a one year low of $130.96 and a one year high of $182.89. The stock's 50-day moving average price is $170.45 and its two-hundred day moving average price is $162.23.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analysts' expectations of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company's revenue for the quarter was up .7% on a year-over-year basis. Equities analysts forecast that AbbVie will post 11.29 EPS for the current year.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.