Investors Purchase Large Volume of Put Options on AbbVie (ABBV)
AbbVie Inc. (NYSE:ABBV) was the target of some unusual options trading on Wednesday. Stock investors purchased 278 put options on the company. This represents an increase of 121% compared to the average volume of 126 put options.
AbbVie (ABBV) opened at $92.31 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 5.63. The company has a market cap of $145.09 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.24 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. analysts expect that AbbVie will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
A number of equities research analysts have issued reports on the company. SunTrust Banks, Inc. restated a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. Piper Jaffray Companies increased their price target on AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Barclays PLC reiterated a “hold” rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Finally, Leerink Swann reduced their price target on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $93.68.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,430 shares of company stock worth $16,664,544. Company insiders own 0.23% of the company’s stock.
Several institutional investors have recently made changes to their positions in ABBV. Bristlecone Advisors LLC acquired a new stake in AbbVie in the 3rd quarter worth about $113,000. Acropolis Investment Management LLC acquired a new stake in AbbVie in the 2nd quarter worth about $106,000. Ffcm LLC boosted its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the last quarter. Hudock Capital Group LLC boosted its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the last quarter. Finally, Hershey Trust Co. acquired a new stake in AbbVie in the 3rd quarter worth about $139,000. Hedge funds and other institutional investors own 68.49% of the company’s stock.
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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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