Abbvie Inc (NYSE:ABBV) shares, rose in value, with the stock price down by -5.32% to the previous day’s close as strong demand from buyers drove the stock to $167.90.
Actively observing the price movement in the last trading, the stock closed the session at $177.33. The value of beta (5-year monthly) was 0.56 whereas the PE ratio was 61.72 over 12-month period. Referring to stock’s 52-week performance, its high was $182.89, and the low was $130.96. On the whole, ABBV has fluctuated by -6.28% over the past month.
With the market capitalization of Abbvie Inc currently standing at about $296.59 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 5.99, with its dividend yield at 3.57%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.33, which is expected to increase to $2.92 for fiscal year $11.19 and then to about $12.21 by fiscal year 2025. Data indicates that the EPS growth is expected to be 0.70% in 2025, while the next year’s EPS growth is forecast to be 9.10%.
Analysts have estimated the company’s revenue for the quarter at $11.97 billion, with a low estimate of $11.86 billion and a high estimate of $12.59 billion. According to the average forecast, sales growth in current quarter could jump down -2.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $54.56 billion, representing an increase of 0.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ABBV’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 16.64, with the price of ABBV currently trading nearly -6.44% and -4.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.54, while the 7-day volatility ratio is showing 2.59% which for the 30-day chart, stands at 1.74%. Furthermore, Abbvie Inc (ABBV)’s beta value is 0.57, and its average true range (ATR) is 3.28.
A comparison of Abbvie Inc (ABBV) with its peers suggests the former has fared considerably weaker in the market. ABBV showed an intraday change of -5.32% in last session, and over the past year, it grew by 4.66%%.
Data on historical trading for Abbvie Inc (NYSE:ABBV) indicates that the trading volumes over the past 10 days have averaged 5.03 million and over the past 3 months, they’ve averaged 5.61 million. According to company’s latest data on outstanding shares, there are 1.77 billion shares outstanding.
Nearly 0.11% of Abbvie Inc’s shares belong to company insiders and institutional investors own 71.94% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.69 million shares as on Mar 15, 2024, resulting in a short ratio of 2.43. According to the data, the short interest in Abbvie Inc (ABBV) stood at 0.83% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.75 million. The stock has risen by 8.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ABBV stock heading into the next quarter.
