AbbVie (NYSE:ABBV) has tumbled 1.62% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.54% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.44%. AbbVie (NYSE:ABBV) has underperformed the index by 0.38% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
AbbVie (NYSE:ABBV): The stock opened at $60.88 on Friday but the bulls could not build on the opening and the stock topped out at $60.97 for the day. The stock traded down to $59.57 during the day, due to lack of any buying support eventually closed down at $60.01 with a loss of -1.46% for the day. The stock had closed at $60.90 on the previous day. The total traded volume was 12,574,723 shares.
The company shares have dropped -14.42% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $71.60 and the one year low was seen on Oct 22, 2015. The 50-Day Moving Average price is $61.70 and the 200 Day Moving Average price is recorded at $58.07.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Gonzalez Richard A, director officer (Chairman of the Board and CEO) of Abbvie Inc., had unloaded 285,953 shares at an average price of $63.87 in a transaction dated on June 2, 2016. The total value of the transaction was worth $18,263,818.
Many analysts have stated their opinion on the company shares. BMO Capital downgrades its rating on AbbVie (NYSE:ABBV). Analysts at the BMO Capital have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 10, 2016. Currently the company Insiders own 0.11% of AbbVie shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -16.87% . Institutional Investors own 66.78% of AbbVie shares. During last six month period, the net percent change held by insiders has seen a change of -14.58%.
AbbVie Inc. (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Companys products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohns disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinsons disease; complications associated with chronic kidney disease and cystic fibrosis, and other health conditions, such as low testosterone. AbbVie also has a pipeline of new medicines, including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties, such as immunology, virology/liver disease, oncology, renal disease, neurological diseases and womens health. The Companys product portfolio includes HUMIRA, HCV products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products.