What’s in Abbvie Incorporated (NYSE:ABBV) After Decline in Shorted Shares?

June 20, 2017 - By Stephen Andrade

 What’s in Abbvie Incorporated (NYSE:ABBV) After Decline in Shorted Shares?

Investors sentiment decreased to 0.98 in 2016 Q4. Its down 0.05, from 1.03 in 2016Q3. It dropped, as 86 investors sold AbbVie Inc shares while 555 reduced holdings. 99 funds opened positions while 531 raised stakes. 1.03 billion shares or 0.70% less from 1.04 billion shares in 2016Q3 were reported.
Creative Planning stated it has 0.1% of its portfolio in AbbVie Inc (NYSE:ABBV). Enterprise Financial Svcs Corporation invested in 18,679 shares. Financial Bank holds 0.37% or 390,765 shares. 33,376 were accumulated by Greatmark Invest Partners. Harvey Invest Communication Limited Liability reported 1.54% stake. Gamble Jones Inv Counsel stated it has 1.55% of its portfolio in AbbVie Inc (NYSE:ABBV). Highlander Mgmt Ltd Liability Corporation invested in 1,400 shares or 0.08% of the stock. Mrj Cap reported 49,000 shares stake. Moreover, Concert Wealth Mngmt Inc has 0.44% invested in AbbVie Inc (NYSE:ABBV). Td Asset Mngmt holds 0.3% or 2.86 million shares in its portfolio. Fuller Thaler Asset Mngmt invested in 0.01% or 11,000 shares. Haverford Tru accumulated 90,323 shares. Botty Invsts Ltd Llc has invested 0.37% in AbbVie Inc (NYSE:ABBV). L S Advsr Inc accumulated 0.21% or 14,895 shares. Bedrijfstakpensioenfonds Voor De Media Pno holds 0.13% or 15,900 shares in its portfolio.

Since February 28, 2017, it had 0 buys, and 10 insider sales for $28.02 million activity. $143,031 worth of stock was sold by HURWICH THOMAS A. on Tuesday, February 28. CHASE WILLIAM J had sold 38,300 shares worth $2.50M. Shares for $5.59M were sold by Schumacher Laura J on Wednesday, June 14. $3.21M worth of AbbVie Inc (NYSE:ABBV) was sold by ALBAN CARLOS on Wednesday, June 14. 72,016 shares valued at $4.63 million were sold by GONZALEZ RICHARD A on Wednesday, March 8. 22,451 shares valued at $1.47M were sold by RICHMOND TIMOTHY J. on Friday, March 10. Shares for $335,068 were sold by Michael Robert A..

The stock of Abbvie Incorporated (NYSE:ABBV) registered a decrease of 7.12% in short interest. ABBV’s total short interest was 30.33 million shares in June as published by FINRA. Its down 7.12% from 32.65 million shares, reported previously. With 5.39 million shares average volume, it will take short sellers 6 days to cover their ABBV’s short positions.

The stock increased 0.41% or $0.29 during the last trading session, reaching $71.34. About shares traded. AbbVie Inc (NYSE:ABBV) has risen 10.63% since June 20, 2016 and is uptrending. It has underperformed by 6.07% the S&P500.

AbbVie Inc. is a research-based biopharmaceutical company. The company has market cap of $114.26 billion. The Firm is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. It has a 18.37 P/E ratio. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Among 18 analysts covering Abbvie Inc (NYSE:ABBV), 7 have Buy rating, 1 Sell and 10 Hold. Therefore 39% are positive. Abbvie Inc has $9000 highest and $55 lowest target. $72.23’s average target is 1.25% above currents $71.34 stock price. Abbvie Inc had 37 analyst reports since July 21, 2015 according to SRatingsIntel. BMO Capital Markets maintained AbbVie Inc (NYSE:ABBV) rating on Friday, April 28. BMO Capital Markets has “Hold” rating and $63 target. The rating was maintained by Jefferies with “Buy” on Monday, May 29. The firm earned “Buy” rating on Friday, March 10 by Goldman Sachs. SunTrust initiated the stock with “Buy” rating in Wednesday, July 22 report. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, December 1. The firm earned “Neutral” rating on Monday, November 28 by Citigroup. The firm earned “Hold” rating on Wednesday, April 19 by BMO Capital Markets. The rating was initiated by Deutsche Bank with “Hold” on Tuesday, March 15. The stock of AbbVie Inc (NYSE:ABBV) earned “Equal-Weight” rating by Morgan Stanley on Wednesday, June 8. The firm earned “Neutral” rating on Thursday, September 8 by JP Morgan.

More notable recent AbbVie Inc (NYSE:ABBV) news were published by: Seekingalpha.com which released: “AbbVie: Generate 13% Annualized Yield On This Drug Maker” on May 31, 2017, also Prnewswire.com with their article: “AbbVie and Principia Announce Collaboration on Oral Immunoproteasome Inhibitors” published on June 13, 2017, Seekingalpha.com published: “AbbVie’s Phase 3 Failures Cast Dark Clouds” on May 22, 2017. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Fool.com and their article: “Better Buy: Pfizer Inc. vs. AbbVie Inc.” published on June 20, 2017 as well as Fool.com‘s news article titled: “How AbbVie Inc. Makes Most of Its Money” with publication date: June 13, 2017.

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