This evening we watched AbbVie rise 1.2% to a price of $168.59 per share. The Large-Cap Pharmaceutical company is now trading -8.32% below its average target price of $183.88. Analysts have set target prices ranging from $170.0 to $207.0 per share for AbbVie, and have given the stock an average rating of buy.
The stock has a very low short interest at 0.9%, and a short ratio of 3.04. At 0.1%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 72.8% of AbbVie's shares being owned by this investor type.
Institutions Invested in AbbVie
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 10% | 170,376,746 | $28,723,814,984 |
| 2024-03-31 | Blackrock Inc. | 8% | 142,959,104 | $24,101,474,819 |
| 2024-03-31 | State Street Corporation | 4% | 77,970,658 | $13,145,072,946 |
| 2024-03-31 | JP Morgan Chase & Company | 3% | 51,258,003 | $8,641,586,538 |
| 2024-03-31 | Capital International Investors | 3% | 48,098,784 | $8,108,973,818 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 37,494,653 | $6,321,223,411 |
| 2024-03-31 | Morgan Stanley | 2% | 35,171,689 | $5,929,594,919 |
| 2024-03-31 | Capital Research Global Investors | 2% | 31,295,150 | $5,276,049,223 |
| 2024-03-31 | Charles Schwab Investment Management, Inc. | 1% | 22,717,314 | $3,829,911,884 |
| 2023-12-31 | Norges Bank Investment Management | 1% | 20,842,023 | $3,513,756,581 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on AbbVie.
