AbbVie Target of Unusually High Options Trading (ABBV)

AbbVie Inc. (NYSE:ABBV) was the target of some unusual options trading on Wednesday. Investors bought 278 put options on the stock. This represents an increase of 121% compared to the average volume of 126 put options.

A number of research firms recently commented on ABBV. Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Barclays PLC reiterated a “hold” rating and issued a $68.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 target price (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $66.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $93.68.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders sold 58,932 shares of company stock worth $5,379,432 over the last 90 days. Company insiders own 0.23% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Formidable Asset Management LLC grew its stake in AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC grew its stake in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC grew its stake in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares in the last quarter. Bollard Group LLC grew its stake in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after purchasing an additional 19 shares in the last quarter. Finally, St. Louis Trust Co grew its stake in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors.

AbbVie (NYSE:ABBV) opened at $93.61 on Friday. The company has a market capitalization of $150,590.00, a P/E ratio of 17.84, a PEG ratio of 1.31 and a beta of 1.52. AbbVie has a 52 week low of $58.60 and a 52 week high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. AbbVie’s revenue was up 8.8% compared to the same quarter last year. sell-side analysts forecast that AbbVie will post 5.55 EPS for the current year.

The company also recently disclosed 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. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 3.03%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 61.84%.

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About AbbVie

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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