On February 10, 2023, SVB Leerink upgraded their outlook for AbbVie from Underperform to Market Perform.
Analyst Price Forecast Suggests 11.73% Upside
As of February 10, 2023, the average one-year price target for AbbVie is $166.14. The forecasts range from a low of $136.35 to a high of $210.00. The average price target represents an increase of 11.73% from its latest reported closing price of $148.70.
The projected annual revenue for AbbVie is $55,229MM, a decrease of 4.87%. The projected annual EPS is $11.88, an increase of 57.73%.
What are large shareholders doing?
Jpmorgan Chase & holds 58,479K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 56,111K shares, representing an increase of 4.05%. The firm decreased its portfolio allocation in ABBV by 5.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 52,745K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 52,037K shares, representing an increase of 1.34%. The firm decreased its portfolio allocation in ABBV by 7.42% over the last quarter.
Capital International Investors holds 45,827K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 43,155K shares, representing an increase of 5.83%. The firm decreased its portfolio allocation in ABBV by 0.21% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 40,081K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 39,113K shares, representing an increase of 2.41%. The firm decreased its portfolio allocation in ABBV by 7.15% over the last quarter.
Capital Research Global Investors holds 36,193K shares representing 2.05% ownership of the company. In it's prior filing, the firm reported owning 26,296K shares, representing an increase of 27.34%. The firm increased its portfolio allocation in ABBV by 27.22% over the last quarter.
What is the Fund Sentiment?
There are 4443 funds or institutions reporting positions in AbbVie. This is an increase of 41 owner(s) or 0.93% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.90%, an increase of 0.47%. Total shares owned by institutions increased in the last three months by 0.29% to 1,425,997K shares. The put/call ratio of ABBV is 0.87, indicating a bullish outlook.
Abbvie Background Information
(This description is provided by the company.)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
