Stock Traders Buy Large Volume of AbbVie Call Options (NYSE:ABBV)

AbbVie Inc (NYSE:ABBV) was the target of unusually large options trading on Monday. Investors purchased 412,710 call options on the stock. This is an increase of approximately 3,562% compared to the typical daily volume of 11,270 call options.

Institutional investors have recently modified their holdings of the company. Hoey Investments Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $31,000. Kempen Capital Management N.V. acquired a new stake in shares of AbbVie in the second quarter worth $41,000. Edge Wealth Management LLC boosted its position in AbbVie by 106.1% during the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock valued at $43,000 after purchasing an additional 295 shares during the last quarter. Massey Quick Simon & CO. LLC boosted its position in AbbVie by 2,400.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after purchasing an additional 600 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in AbbVie during the third quarter valued at $48,000. 70.42% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on ABBV shares. Piper Jaffray Companies raised their price target on AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Citigroup raised their target price on AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada assumed coverage on AbbVie in a research report on Monday, January 6th. They set a “sector perform” rating and a $86.00 price target on the stock. Bank of America cut AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Cowen lifted their price target on AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $86.33.

Shares of NYSE ABBV traded down $1.09 during mid-day trading on Tuesday, reaching $87.43. The company had a trading volume of 1,296,996 shares, compared to its average volume of 6,156,041. The stock has a market cap of $131.70 billion, a PE ratio of 11.05, a P/E/G ratio of 2.10 and a beta of 0.97. The company has a 50-day moving average price of $88.46 and a two-hundred day moving average price of $76.67. AbbVie has a 1-year low of $62.66 and a 1-year high of $91.99.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion for the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. Sell-side analysts predict that AbbVie will post 8.93 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.18 dividend. This represents a dividend yield of 5.93%. The ex-dividend date is Tuesday, January 14th. This is a boost from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio (DPR) is 54.11%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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