Institutional Investor’s Pro-Abbvie Inc (NYSE:ABBV) Sentiment In 2019 Q2

AbbVie Inc. (NYSE:ABBV) Logo

Sentiment for Abbvie Inc (NYSE:ABBV)

Abbvie Inc (NYSE:ABBV) institutional sentiment increased to 1.16 in 2019 Q2. Its up 0.33, from 0.83 in 2019Q1. The ratio improved, as 671 hedge funds increased and started new equity positions, while 580 trimmed and sold stock positions in Abbvie Inc. The hedge funds in our partner’s database now hold: 950.66 million shares, down from 962.74 million shares in 2019Q1. Also, the number of hedge funds holding Abbvie Inc in their top 10 equity positions decreased from 29 to 26 for a decrease of 3. Sold All: 67 Reduced: 513 Increased: 542 New Position: 129.

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company has market cap of $104.43 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 25.79 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.

The stock decreased 0.28% or $0.19 during the last trading session, reaching $70.64. About 6.33 million shares traded. AbbVie Inc. (NYSE:ABBV) has declined 27.15% since September 13, 2018 and is downtrending. It has underperformed by 27.15% the S&P500.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on November, 1. They expect $2.28 EPS, up 6.54 % or $0.14 from last year’s $2.14 per share. ABBV’s profit will be $3.37B for 7.75 P/E if the $2.28 EPS becomes a reality. After $2.26 actual EPS reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 0.88 % EPS growth.

Brandywine Trust Co holds 8.27% of its portfolio in AbbVie Inc. for 161,043 shares. Inspirion Wealth Advisors Llc owns 190,942 shares or 6% of their US portfolio. Moreover, Pdt Partners Llc has 5.18% invested in the company for 1.21 million shares. The New Jersey-based Groesbeck Investment Management Corp Nj has invested 4.36% in the stock. Bruce & Co. Inc., a Illinois-based fund reported 254,800 shares.

Since January 1, 0001, it had 11 insider buys, and 0 insider sales for $14.46 million activity.

AbbVie Inc. (NYSE:ABBV) Ratings Coverage

Ratings analysis reveals 50% of AbbVie’s analysts are positive. Out of 4 Wall Street analysts rating AbbVie, 2 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $7900 while the high is $8400. The stock’s average target of $80.75 is 14.31% above today’s ($70.64) share price. ABBV was included in 10 notes of analysts from March 25, 2019. As per Monday, April 29, the company rating was upgraded by BMO Capital Markets. The company was maintained on Wednesday, September 4 by Piper Jaffray. UBS upgraded it to “Buy” rating and $7900 target in Thursday, September 12 report. The stock has “Overweight” rating by Piper Jaffray on Tuesday, August 20.

More notable recent AbbVie Inc. (NYSE:ABBV) news were published by: Fool.com which released: “Better Buy: AbbVie vs. Johnson & Johnson – The Motley Fool” on August 25, 2019, also Seekingalpha.com with their article: “AbbVie bails on ADC Rova-T in lung cancer – Seeking Alpha” published on August 29, 2019, Seekingalpha.com published: “UBS upgrades AbbVie in premarket analyst action – Seeking Alpha” on September 12, 2019. More interesting news about AbbVie Inc. (NYSE:ABBV) were released by: Fool.com and their article: “3 Stocks to Buy With Dividends Yielding More Than 6% – Motley Fool” published on September 08, 2019 as well as Fool.com‘s news article titled: “3 Lessons From AbbVie’s $5.8 Billion Blunder With Cancer Drug Rova-T – Motley Fool” with publication date: September 04, 2019.

AbbVie Inc. (NYSE:ABBV) Ratings Chart

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