After Reaching Milestone, Is Abbvie Inc (NYSE:ABBV)’s Short Interest Revealing Something?

AbbVie Inc. (NYSE:ABBV) Logo

Investors sentiment is 0.83 in Q1 2019. Its the same as in 2018Q4. It is flat, as 73 investors sold AbbVie Inc. shares while 627 reduced holdings. only 134 funds opened positions while 450 raised stakes. 962.74 million shares or 3.37% less from 996.27 million shares in 2018Q4 were reported.
Alley Comm Lc has invested 2.1% in AbbVie Inc. (NYSE:ABBV). First Long Island Invsts Ltd Liability Corporation invested 1.2% of its portfolio in AbbVie Inc. (NYSE:ABBV). Oakworth Cap has 8,350 shares for 0.14% of their portfolio. Moreover, Van Eck has 0.07% invested in AbbVie Inc. (NYSE:ABBV) for 178,262 shares. Verus Prns holds 2,632 shares. Woodstock owns 1.26% invested in AbbVie Inc. (NYSE:ABBV) for 86,989 shares. Moreover, Williams Jones Assocs Limited Liability Com has 0.1% invested in AbbVie Inc. (NYSE:ABBV). Atwood & Palmer Incorporated owns 2,500 shares. M&T Comml Bank invested in 0.43% or 1.03 million shares. Pinnacle Wealth Advisory Gru Ltd Liability accumulated 11,747 shares. Mutual Of Omaha Bancshares Wealth Mngmt owns 124,548 shares for 3.02% of their portfolio. Seabridge Advsr Ltd Company accumulated 2,600 shares. 109,490 are owned by Scotia Cap. Horizon Invests holds 5,432 shares. Envestnet Asset Mngmt stated it has 1.15 million shares or 0.13% of all its holdings.

Since June 26, 2019, it had 6 buys, and 0 insider sales for $6.65 million activity. RAPP EDWARD J bought $504,750 worth of stock or 7,500 shares. AUSTIN ROXANNE S bought $776,250 worth of stock or 11,500 shares.

The stock of Abbvie Inc (NYSE:ABBV) registered a decrease of 12.33% in short interest. ABBV’s total short interest was 22.19 million shares in July as published by FINRA. Its down 12.33% from 25.31M shares, reported previously. With 5.97 million shares average volume, it will take short sellers 4 days to cover their ABBV’s short positions. The short interest to Abbvie Inc’s float is 1.48%.

The stock increased 0.16% or $0.11 during the last trading session, reaching $70.28. About 12.40 million shares traded or 40.97% up from the average. AbbVie Inc. (NYSE:ABBV) has declined 25.60% since July 14, 2018 and is downtrending. It has underperformed by 30.03% the S&P500.

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company has market cap of $103.90 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 20.02 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.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Among 3 analysts covering AbbVie (NYSE:ABBV), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. AbbVie has $91 highest and $7900 lowest target. $86’s average target is 22.37% above currents $70.28 stock price. AbbVie had 10 analyst reports since January 23, 2019 according to SRatingsIntel. The rating was maintained by Piper Jaffray with “Hold” on Wednesday, March 13. On Wednesday, January 23 the stock rating was reinitiated by UBS with “Neutral”. The stock of AbbVie Inc. (NYSE:ABBV) earned “Market Perform” rating by BMO Capital Markets on Monday, April 29. On Thursday, February 21 the stock rating was maintained by Piper Jaffray with “Hold”.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Finance.Yahoo.com which released: “Better Buy: AbbVie vs. Merck – Yahoo Finance” on July 13, 2019, also Seekingalpha.com with their article: “AbbVie, Allergan, Ugh – Seeking Alpha” published on June 27, 2019, Globenewswire.com published: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Allergan plc to AbbVie Inc. is Fair to Shareholders – GlobeNewswire” on June 25, 2019. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Finance.Yahoo.com and their article: “Are Hedge Funds Going To Get Burned By AbbVie Inc (ABBV) ? – Yahoo Finance” published on June 06, 2019 as well as Benzinga.com‘s news article titled: “30 Stocks Moving In Tuesday’s Pre-Market Session – Benzinga” with publication date: June 25, 2019.

AbbVie Inc. (NYSE:ABBV) Ratings Chart

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