AbbVie Inc. (NYSE: ABBV)’s stock price has increased by 0.80 compared to its previous closing price of 154.06. Nevertheless, the company has seen a gain of 5.40% in its stock price over the last five trading days. Barron’s reported on 02/09/23 that AbbVie Posts an Earnings Beat but Forecast Misses as Competition Intensifies
Is It Worth Investing in AbbVie Inc. (NYSE: ABBV) Right Now?
AbbVie Inc. (NYSE: ABBV) has a price-to-earnings ratio of 23.43x that is above its average ratio. Additionally, the 36-month beta value for ABBV is 0.56. There are mixed opinions on the stock, with 12 analysts rating it as a “buy,” 0 rating it as “overweight,” 11 rating it as “hold,” and 0 rating it as “sell.”
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
The average price predicted by analysts for ABBV is $164.71, which is $7.92 above the current price. The public float for ABBV is 1.77B and currently, short sellers hold a 0.72% ratio of that float. The average trading volume of ABBV on March 17, 2023 was 5.85M shares.
ABBV’s Market Performance
The stock of AbbVie Inc. (ABBV) has seen a 5.40% increase in the past week, with a 1.78% rise in the past month, and a -5.76% fall in the past quarter. The volatility ratio for the week is 2.14%, and the volatility levels for the past 30 days are at 1.91% for ABBV. The simple moving average for the last 20 days is 1.90% for ABBV stock, with a simple moving average of 4.19% for the last 200 days.
Analysts’ Opinion of ABBV
Many brokerage firms have already submitted their reports for ABBV stocks, with Guggenheim repeating the rating for ABBV by listing it as a “Buy.” The predicted price for ABBV in the upcoming period, according to Guggenheim is $172 based on the research report published on March 01st of the current year 2023.
SVB Securities gave a rating of “Market Perform” to ABBV, setting the target price at $153 in the report published on February 10th of the current year.
ABBV Trading at 2.19% from the 50-Day Moving Average
After a stumble in the market that brought ABBV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -11.72% of loss for the given period.
Volatility was left at 1.91%, however, over the last 30 days, the volatility rate increased by 2.14%, as shares surge +2.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.36% lower at present.
During the last 5 trading sessions, ABBV rose by +5.40%, which changed the moving average for the period of 200-days by +3.53% in comparison to the 20-day moving average, which settled at $152.61. In addition, AbbVie Inc. saw -3.90% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at ABBV starting from Stewart Jeffrey Ryan, who sale 53,125 shares at the price of $152.28 back on Mar 13. After this action, Stewart Jeffrey Ryan now owns 60,941 shares of AbbVie Inc., valued at $8,089,998 using the latest closing price.
RICHMOND TIMOTHY J., the EVP, CHIEF HR OFFICER of AbbVie Inc., sale 44,141 shares at $153.28 during a trade that took place back on Mar 01, which means that RICHMOND TIMOTHY J. is holding 13,837 shares at $6,766,103 based on the most recent closing price.
Stock Fundamentals for ABBV
Current profitability levels for the company are sitting at:
- +38.93 for the present operating margin
- +71.67 for the gross margin
The net margin for AbbVie Inc. stands at +20.29. Equity return is now at value 73.40, with 8.30 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.96.
In conclusion, AbbVie Inc. (ABBV) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.