AbbVie Sees Unusually High Options Volume (ABBV)
AbbVie Inc. (NYSE:ABBV) saw unusually large options trading on Monday. Investors acquired 278 put options on the company. This represents an increase of approximately 121% compared to the typical daily volume of 126 put options.
AbbVie (NYSE ABBV) opened at 72.59 on Thursday. The firm’s 50-day moving average price is $71.63 and its 200-day moving average price is $65.94. AbbVie has a 1-year low of $55.06 and a 1-year high of $75.04. The firm has a market cap of $115.53 billion, a P/E ratio of 18.82 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its earnings results on Thursday, April 27th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.49 billion. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. AbbVie’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. Equities research analysts anticipate that AbbVie will post $5.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.53%. AbbVie’s dividend payout ratio is currently 66.32%.
In other AbbVie news, insider Laura J. Schumacher sold 79,800 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now owns 187,625 shares in the company, valued at approximately $13,133,750. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares in the company, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,135 shares of company stock worth $18,841,085. 0.23% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ABBV. Hanson & Doremus Investment Management increased its stake in shares of AbbVie by 1.0% in the second quarter. Hanson & Doremus Investment Management now owns 5,609 shares of the company’s stock worth $407,000 after buying an additional 57 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of AbbVie by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 95,440 shares of the company’s stock worth $6,920,000 after buying an additional 3,280 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of AbbVie by 46.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 21,598 shares of the company’s stock worth $1,566,000 after buying an additional 6,800 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of AbbVie by 8.4% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 751,750 shares of the company’s stock worth $54,509,000 after buying an additional 58,554 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of AbbVie during the second quarter worth about $351,000. Institutional investors own 68.08% of the company’s stock.
ABBV has been the topic of a number of research analyst reports. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $76.28 target price on the stock. in a report on Thursday, July 20th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 target price (up from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $74.00 target price (up from $65.00) on shares of AbbVie in a research report on Thursday, July 20th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $74.52.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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