Large Inflow of Money Detected in AbbVie

AbbVie (ABBV) : $73.42 million worth of transactions were on upticks in AbbVie (ABBV), compared to $45.82 million on downticks. The ratio between the two was 1.6, whereas, the net money flow stood at a healthy $27.6 million on Tuesdays session.The block trades show a bullish bias with only $1.37 million worth of transactions done on downticks. The consistent buying on upticks in the stock accounted for $28.48million worth of trades. The up-down ratio between the uptick and downtick was 20.82, confirming that the stronger hands have been buying the stock on every weakness. The total money flow into the stock stood at $27.11 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.54%. The stock was trading at $64.16, with a drop of $0.35 over the previous days close. The stock recorded -0.7% for the week.


Also, In the latest statement by the brokerage house, BMO Capital downgrades its outlook on AbbVie (NYSE:ABBV). The current rating of the shares is Market Perform, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on June 10, 2016.

AbbVie Inc. has lost 3.04% in the last five trading days and dropped 4.15% in the last 4 weeks. AbbVie Inc. is up 3.01% in the last 3-month period. Year-to-Date the stock performance stands at 11.46%.

AbbVie (NYSE:ABBV): The stock opened at $64.54 on Tuesday but the bulls could not build on the opening and the stock topped out at $64.71 for the day. The stock traded down to $64.11 during the day, due to lack of any buying support eventually closed down at $64.16 with a loss of -0.54% for the day. The stock had closed at $64.51 on the previous day. The total traded volume was 5,531,774 shares.

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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