AbbVie Inc. (ABBV) expanding its growth trajectory ahead

AbbVie Inc. (NYSE: ABBV) stock jumped 1.92% on Friday to $143.01 against a previous-day closing price of $140.31. With 6.16 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.49 million shares. During the session, the Drug Manufacturers – General company that operates in wider Healthcare sector, reached to the highest price of $144.46 whereas the lowest price it dropped to was $140.00. The 52-week range on ABBV shows that it touched its highest point at $175.91 and its lowest point at $105.93 during that stretch. It currently has a 1-year price target of $158.85. With its current market cap of 250.13 billion, ABBV has annualized dividend of $5.64 while the current yield stands at 3.94%. Beta for the stock currently stands at 0.67.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ABBV was up-trending over the past week, with a rise of 0.35%, but this was up by 2.87% over a month. Three-month performance dropped to -4.31% while six-month performance fell -9.73%. The stock gained 34.40% in the past year, while it has gained 5.62% so far this year. A look at the trailing 12-month EPS for ABBV yields 7.07 with Next year EPS estimates of 11.90. For the next quarter, that number is 3.60. This implies an EPS growth rate of 137.00% for this year and -14.18% for next year. EPS is expected to decline by -0.57% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 12.20%.

Float and Shares Shorts:

At present, 1.77 billion ABBV shares are outstanding with a float of 1.77 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 14.03 million, which was 0.79% higher than short shares on Jun 14, 2022. In addition to Mr. Richard A. Gonzalez as the firm’s Chairman & CEO, Mr. Robert A. Michael serves as its Vice Chairman & Pres.


Institutional Ownership:

Through their ownership of 71.44% of ABBV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.87% of ABBV, in contrast to 31.66% held by mutual funds. Shares owned by individuals account for 0.13%. As the largest shareholder in ABBV with 8.26% of the stake, The Vanguard Group, Inc. holds 146,064,918 shares worth 146,064,918. A second-largest stockholder of ABBV, BlackRock Fund Advisors, holds 85,104,124 shares, controlling over 4.81% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ABBV, holding 77,119,622 shares or 4.36% stake. With a 2.96% stake in ABBV, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 52,319,735 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.23% of ABBV stock, is the second-largest Mutual Fund holder. It holds 39,437,062 shares valued at 5.3 billion. Fidelity 500 Index Fund holds 1.07% of the stake in ABBV, owning 18,974,130 shares worth 2.55 billion.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ABBV since 24 analysts follow the stock currently. There are 13 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ABBV analysts setting a high price target of $200.00 and a low target of $135.00, the average target price over the next 12 months is $159.25. Based on these targets, ABBV could surge 39.85% to reach the target high and fall by -5.6% to reach the target low. Reaching the average price target will result in a growth of 11.36% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ABBV will report FY 2022 earnings on 01/27/2023. Analysts have provided yearly estimates in a range of $14.04 being high and $13.66 being low. For ABBV, this leads to a yearly average estimate of $13.86. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. AbbVie Inc. surprised analysts by $0.05 when it reported $3.37 EPS against a consensus estimate of $3.32. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $3.70 and the low estimate is $3.51. The average estimate for the next quarter is thus $3.60.

Summary of Insider Activity:

Insiders traded ABBV stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 82 while that of sell transactions has risen to 81 over the past year. The total number of shares bought during that period was 2,041,476 while 1,824,373 shares were sold.

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