Could AbbVie Inc. (ABBV) Skyrocket Even More? The Stock Just Made All Time High

December 13, 2017 - By Max Morgan

Investors sentiment increased to 1 in 2017 Q2. Its up 0.01, from 0.99 in 2017Q1. It increased, as 55 investors sold AbbVie Inc. shares while 581 reduced holdings. 138 funds opened positions while 500 raised stakes. 1.04 billion shares or 0.53% more from 1.04 billion shares in 2017Q1 were reported.
Shelter Insur Retirement Plan invested in 79,700 shares or 2.71% of the stock. Aureus Asset Mgmt Limited Liability holds 3,294 shares or 0.04% of its portfolio. Chilton Invest Com Ltd Liability Corporation stated it has 3,021 shares or 0.01% of all its holdings. Mckinley Cap Management Limited Liability Company Delaware reported 59,267 shares. Tru Department Mb Financial Bank N A stated it has 34,026 shares or 0.27% of all its holdings. Train Babcock Advisors Ltd Liability holds 10,415 shares or 0.33% of its portfolio. Services Of America holds 0.04% or 3,536 shares. Tradewinds Ltd Liability Corp has 2,269 shares for 0.09% of their portfolio. Hourglass Cap Ltd Liability Co invested 1.58% in AbbVie Inc. (NYSE:ABBV). Principal holds 0.26% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 3.51 million shares. Jarislowsky Fraser Limited accumulated 257,604 shares. Fmr Limited Liability holds 0.06% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 6.50M shares. Aviance Capital Lc holds 0.83% or 183,093 shares in its portfolio. Texas-based Beacon Fin Group Inc Inc has invested 0.17% in AbbVie Inc. (NYSE:ABBV). Aviance Capital Prtnrs Ltd Com reported 45,928 shares stake.

Since June 14, 2017, it had 0 buys, and 6 insider sales for $22.93 million activity. $705,655 worth of stock was sold by SALEKI-GERHARDT AZITA on Monday, September 11. GONZALEZ RICHARD A sold 193,131 shares worth $13.71M. $3.21 million worth of AbbVie Inc. (NYSE:ABBV) was sold by ALBAN CARLOS. Schumacher Laura J had sold 79,800 shares worth $5.59 million on Wednesday, June 14. Michael Robert A. had sold 6,699 shares worth $589,512 on Thursday, September 28.

The stock of AbbVie Inc. (NYSE:ABBV) reached all time high today, Dec, 13 and still has $101.24 target or 4.00 % above today’s $97.35 share price. This indicates more upside for the $155.41B company. This technical setup was reported by Barchart.com. If the $101.24 PT is reached, the company will be worth $6.22 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 1.09% or $1.05 during the last trading session, reaching $97.35. About 4.47M shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since December 13, 2016 and is uptrending. It has underperformed by 6.07% the S&P500.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on January, 26. They expect $1.43 EPS, up 19.17 % or $0.23 from last year’s $1.2 per share. ABBV’s profit will be $2.28B for 17.02 P/E if the $1.43 EPS becomes a reality. After $1.41 actual EPS reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 1.42 % EPS growth.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 69 analyst reports since July 21, 2015 according to SRatingsIntel. BMO Capital Markets maintained the stock with “Hold” rating in Wednesday, October 11 report. The rating was maintained by SunTrust on Sunday, October 29 with “Buy”. The company was maintained on Wednesday, April 19 by BMO Capital Markets. The stock of AbbVie Inc. (NYSE:ABBV) has “Buy” rating given on Tuesday, December 5 by Leerink Swann. The company was maintained on Sunday, July 30 by BMO Capital Markets. The firm earned “Equal-Weight” rating on Wednesday, June 8 by Morgan Stanley. Cowen & Co maintained the stock with “Hold” rating in Friday, July 28 report. SunTrust maintained AbbVie Inc. (NYSE:ABBV) rating on Monday, October 16. SunTrust has “Buy” rating and $95.0 target. As per Thursday, May 25, the company rating was maintained by Jefferies. The stock of AbbVie Inc. (NYSE:ABBV) has “Sell” rating given on Wednesday, April 6 by Societe Generale.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Fool.com which released: “The case for Johnson & Johnson” on November 21, 2017, also Seekingalpha.com with their article: “AbbVie Raises Dividend 11%… What Now?” published on December 04, 2017, Nasdaq.com published: “Shelton Capital Management Buys DowDuPont Inc, Franklin Resources Inc, AbbVie …” on November 29, 2017. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Seekingalpha.com and their article: “AbbVie’s risankizumab successful in fourth late-stage psoriasis study” published on December 04, 2017 as well as Seekingalpha.com‘s news article titled: “Dividend Aristocrats In Focus Part 45: AbbVie” with publication date: November 22, 2017.

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company has market cap of $155.41 billion. The firm offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C. It has a 23.65 P/E ratio. It also provides Kaletra, an anti- human immunodeficiency virus-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in HIV-1 patients; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1; and Synagis to prevent RSV infection at-risk infants.

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