Investors Buy High Volume of AbbVie Put Options (NYSE:ABBV)

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

In other news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold 277,125 shares of company stock worth $25,891,756 over the last ninety days. 0.23% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ABBV. Shelton Capital Management boosted its holdings in AbbVie by 59.6% during the 3rd quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock valued at $11,356,000 after acquiring an additional 47,700 shares during the period. GSB Wealth Management LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $240,000. Steward Partners Investment Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $5,754,000. Public Employees Retirement System of Ohio boosted its holdings in AbbVie by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after acquiring an additional 4,028 shares during the period. Finally, Coastline Trust Co boosted its holdings in AbbVie by 9.8% during the 3rd quarter. Coastline Trust Co now owns 19,600 shares of the company’s stock valued at $1,742,000 after acquiring an additional 1,744 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.

A number of brokerages have weighed in on ABBV. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Monday. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Finally, Societe Generale lifted their target price on AbbVie in a research report on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $96.72.

Shares of AbbVie (ABBV) traded up $0.19 on Tuesday, hitting $95.41. The company’s stock had a trading volume of 5,552,983 shares, compared to its average volume of 6,125,012. 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 has a 52-week low of $58.80 and a 52-week high of $98.52. The company has a market capitalization of $152,330.00, a price-to-earnings ratio of 18.14, a PEG ratio of 1.36 and a beta of 1.53.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. equities analysts forecast that AbbVie will post 5.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 62.14%.

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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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