Shares of AbbVie (ABBV) Sees Large Outflow of Money

AbbVie (ABBV) : Wednesdays money flow analysis of AbbVie (ABBV) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $74.63 million. In comparison, the inflow of money on upticks was a meager $69.98 million. The dollar value of composite uptick trades minus the downtick trades was negative $4.65 million. The uptick to downtick ratio of 0.94 in the money flow shows weakness. The uptick block trades were valued at $24.72 million. The downtick transaction value was high at $30.21 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.82. Hence, the net money flow in the stock was negative ($5.49 million). AbbVie (ABBV) gained $0.06 at $63.38, a change of 0.09% over the previous days close.


Also, Brokerage firm BMO Capital downgrades its rating on AbbVie (NYSE:ABBV). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on June 10, 2016.

AbbVie (NYSE:ABBV): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $63.57 and $63.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $63.41, notching a gain of 0.14% for the day. The total traded volume was 7,502,821 . The stock had closed at $63.32 on the previous day.

The stock has recorded a 20-day Moving Average of 2.28% and the 50-Day Moving Average is 3.18%. In a related news, The Securities and Exchange Commission has divulged that Schumacher Laura J, Officer (Executive Vice President) of AbbVie Inc., had unloaded 186,106 shares at an average price of $60.07 in a transaction dated on June 24, 2016. The total value of the transaction was worth $11,179,387.

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.

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