Forecasting ABBV Stock – Analyst Predictions

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.