Investors Purchase High Volume of AbbVie Put Options (ABBV)
AbbVie Inc. (NYSE:ABBV) saw unusually large options trading activity on Monday. Investors purchased 278 put options on the stock. This represents an increase of 121% compared to the average daily volume of 126 put options.
ABBV has been the subject of several analyst reports. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $74.86 price target for the company in a research report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $94.00 price target (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $89.90.
In related news, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of the transaction, the insider now directly owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $70.45 per share, with a total value of $281,800.00. Following the completion of the transaction, the director now directly owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 over the last quarter. 0.23% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Accident Compensation Corp lifted its holdings in AbbVie by 24.7% during the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares in the last quarter. Investec Asset Management LTD lifted its holdings in AbbVie by 3.6% during the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after buying an additional 5,801 shares in the last quarter. Comerica Securities Inc. lifted its holdings in AbbVie by 832.7% during the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock valued at $4,329,000 after buying an additional 59,319 shares in the last quarter. Suntrust Banks Inc. lifted its holdings in AbbVie by 3.7% during the 1st quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock valued at $79,265,000 after buying an additional 43,617 shares in the last quarter. Finally, Clean Yield Group lifted its holdings in AbbVie by 25.0% during the 1st quarter. Clean Yield Group now owns 9,598 shares of the company’s stock valued at $625,000 after buying an additional 1,920 shares in the last quarter. 68.26% of the stock is owned by hedge funds and other institutional investors.
AbbVie (NYSE ABBV) opened at 89.90 on Thursday. AbbVie has a 52 week low of $55.06 and a 52 week high of $90.95. The stock’s 50 day moving average is $81.10 and its 200 day moving average is $71.64. The company has a market capitalization of $143.31 billion, a P/E ratio of 22.11 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that AbbVie will post $5.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.85%. AbbVie’s dividend payout ratio is presently 62.90%.
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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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