AbbVie Inc. (NYSE:ABBV) saw a downside of -0.47% to close Tuesday at $149.62 after subtracting -$0.71 on the day. The 5-day average trading volume is 4,495,340 shares of the company’s common stock. It has gained $151.75 in the past week and touched a new high 4 times within the past 5 days. An average of 5,695,470 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,195,574.
ABBV’s 1-month performance is 11.25% or $14.12 on its low of $132.70 reached on 07/13/23. The company’s shares have touched a 52-week low of $130.96 and high of $168.11, with the stock’s rally to the 52-week high happening on 01/06/23. YTD, ABBV has lost -7.42% or -$11.99 and has reached a new high 4 times. However, the current price is down -11.00% from the 52-week high price.
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Insider Transactions
ABBV stock investors last saw insider trading activity on Aug 01.GONZALEZ RICHARD A (CHAIRMAN OF THE BOARD AND CEO) most recently sold 60,000 shares at $148.58 per share on Aug 01. This transaction cost the insider $8,914,800. CHAIRMAN OF THE BOARD AND CEO, GONZALEZ RICHARD A, sold 18,500 shares at a price of $149.15 on Jul 31. Then, on Apr 25, SVP, US COMMERCIAL OPERATIONS Sorg Elaine K. sold 6,130 shares at a price of $165.00 per share. This transaction amounted to $1,011,450.
Valuation Metrics
ABBV stock has a beta of 0.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.75 while the price-to-book (PB) in the most recent quarter is 19.95, with the price to cash flow ratio at 18.75.
AbbVie Inc.’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 4.47, while the total debt to equity was 4.68.. In terms of profitability, the gross margin trailing 12 months is 70.50%. The trailing 12-month EBITDA margin is 53.52% while for the period ending June 29, AbbVie Inc.’s operating margin was 32.30%. The firm’s gross profit as reported stood at $40.64 billion against revenue of $58.05 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, AbbVie Inc.’s cash and short-term investments amounted to $7.0 million against total debt of $62.46 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 54.35% to $2.02 billion, while revenue of $239.0 million was 88.19% off the previous quarter. Analysts expected ABBV to announce $2.81 per share in earnings in its latest quarter, but it posted $2.91, representing a 3.60% surprise. EBITDA for the quarter stood at more than $6.77 billion. ABBV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 122.47 billion, with total debt at $62.46 billion. Shareholders hold equity totaling $1.77 billion.
Let’s look briefly at AbbVie Inc. (ABBV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 65.92% to suggest the stock is trending Neutral, with historical volatility in this time period at 27.15%.
The stock’s 5-day moving average is $149.22, reflecting a +0.73% or $1.08 change from its current price. ABBV is currently trading +10.36% above its 20-day SMA, -2.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +7.94% and SMA200 by+4.53%.
Stochastic %K and %D was 83.50% and 83.17% and the average true range (ATR) pointed at 2.92. The RSI (14) points at 64.65%, while the 14-day stochastic is at 83.80% with the period’s ATR at 2.86. The stock’s 9-day MACD Oscillator is pointing at -0.10 and 2.33 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for AbbVie Inc. (NYSE: ABBV), William Blair launched coverage with a Mkt perform rating. Analysts offering their rating for ABBV stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ABBV as a “sell,”, while 14 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 14 have offered a “buy” rating.
What is ABBV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $135.00 and a high of $205.00, with their median price target at $164.50. Looking at these predictions, the average price target given by analysts is for AbbVie Inc. (ABBV) stock is $166.98.
