Short Interest Alert: Will Abbvie Incorporated (NYSE:ABBV) Run Out of Steam Soon? Short Interest is Up

November 23, 2016 - By Linda Rogers   ·   0 Comments

Short Interest Alert: Will Abbvie Incorporated (NYSE:ABBV) Run Out of Steam Soon? Short Interest is Up

The stock of Abbvie Incorporated (NYSE:ABBV) registered an increase of 1.34% in short interest. ABBV’s total short interest was 28.63 million shares in November as published by FINRA. Its up 1.34% from 28.25M shares, reported previously. With 7.97M shares average volume, it will take short sellers 4 days to cover their ABBV’s short positions. The stock decreased 2.47% or $1.49 during the last trading session, hitting $58.93. AbbVie Inc (NYSE:ABBV) has declined 3.98% since April 21, 2016 and is downtrending. It has underperformed by 9.31% the S&P500.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $95.61 billion. The Firm develops and markets therapies that address a range of diseases. It has a 15.85 P/E ratio. The Firm operates in pharmaceutical products segment.

Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.17, from 0.86 in 2016Q1. The ratio increased, as 86 funds sold all AbbVie Inc shares owned while 593 reduced positions. 75 funds bought stakes while 508 increased positions. They now own 1.06 billion shares or 1.95% less from 1.08 billion shares in 2016Q1.
Primecap Com Ca last reported 979,845 shares in the company. First Manhattan holds 208,541 shares or 0.08% of its portfolio. Plante Moran Financial Advisors Lc last reported 11,973 shares in the company. Farmers And Merchants last reported 0.81% of its portfolio in the stock. Pekin Singer Strauss Asset Management Il holds 0.72% or 53,231 shares in its portfolio. Fishman Jay A Mi last reported 0% of its portfolio in the stock. Old Republic Corporation has invested 1.05% of its portfolio in AbbVie Inc (NYSE:ABBV). Piedmont Inv Advsr Limited Liability Company holds 0% of its portfolio in AbbVie Inc (NYSE:ABBV) for 367,795 shares. Everett Harris And Company Ca, a California-based fund reported 449,261 shares. Bluefin Trading Llc reported 11,937 shares or 0.07% of all its holdings. Motco has invested 0.04% of its portfolio in AbbVie Inc (NYSE:ABBV). Bailard last reported 5,429 shares in the company. Busey Tru has invested 0.25% of its portfolio in AbbVie Inc (NYSE:ABBV). Horizon Kinetics Limited Liability has 34,755 shares for 0.05% of their US portfolio. Logan owns 156,339 shares or 0.82% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 3 selling transactions for $21.69 million net activity. 285,953 AbbVie Inc (NYSE:ABBV) shares with value of $18.25M were sold by GONZALEZ RICHARD A. The insider Schumacher Laura J sold 50,000 shares worth $3.25M. $192,200 worth of AbbVie Inc (NYSE:ABBV) was sold by HURWICH THOMAS A..

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Out of 17 analysts covering Abbvie Inc (NYSE:ABBV), 7 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 41% are positive. $85 is the highest target while $55 is the lowest. The $71.08 average target is 20.62% above today’s ($58.93) stock price. Abbvie Inc has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of AbbVie Inc (NYSE:ABBV) has “Buy” rating given on Monday, March 7 by Goldman Sachs. Atlantic Securities initiated the shares of ABBV in a report on Friday, December 18 with “Neutral” rating. Jefferies upgraded the stock to “Buy” rating in Monday, December 7 report. The rating was initiated by Societe Generale on Wednesday, April 6 with “Sell”. The firm earned “Outperform” rating on Friday, February 5 by William Blair. The rating was downgraded by Credit Suisse on Monday, October 31 to “Neutral”. The rating was downgraded by Barclays Capital on Tuesday, December 1 to “Equal-Weight”. The firm has “Buy” rating given on Tuesday, August 11 by TheStreet. Morgan Stanley upgraded AbbVie Inc (NYSE:ABBV) on Monday, November 2 to “Overweight” rating. The stock has “Equal-Weight” rating given by Morgan Stanley on Wednesday, June 8.

ABBV Company Profile

AbbVie Inc. (AbbVie), incorporated on April 10, 2012, is a research biopharmaceutical company. The Firm develops and markets therapies that address a range of diseases. The Firm operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions. AbbVie also has a pipeline of new medicines, including over 50 compounds or indications in clinical development across medical specialties, such as immunology, virology/liver disease, oncology, neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA, IMBRUVICA, HCV products, additional virology products, metabolics/hormones products, endocrinology products and other products.

More recent AbbVie Inc (NYSE:ABBV) news were published by: Fool.com which released: “Better Buy: AbbVie Inc. vs. GlaxoSmithKline PLC” on November 18, 2016. Also Fool.com published the news titled: “Better Buy: Merck & Co. Inc. vs. AbbVie Inc.” on October 25, 2016. Fool.com‘s news article titled: “AbbVie Inc. Q3 Results: Good but Not Good Enough” with publication date: October 28, 2016 was also an interesting one.

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By Linda Rogers


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