Traders Buy Large Volume of Put Options on AbbVie (ABBV)

AbbVie Inc. (NYSE:ABBV) saw unusually large options trading activity on Wednesday. Stock investors acquired 278 put options on the company. This is an increase of 121% compared to the average daily volume of 126 put options.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the sale, the chairman now directly owns 469,623 shares of the company’s stock, valued at $33,343,233. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,430 shares of company stock valued at $16,664,544. Company insiders own 0.23% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Waldron LP lifted its stake in AbbVie by 31.0% during the first quarter. Waldron LP now owns 6,984 shares of the company’s stock worth $446,000 after purchasing an additional 1,653 shares in the last quarter. Palo Capital Inc. acquired a new stake in shares of AbbVie in the first quarter valued at $212,000. Schmidt P J Investment Management Inc. raised its stake in shares of AbbVie by 2.6% in the first quarter. Schmidt P J Investment Management Inc. now owns 88,635 shares of the company’s stock valued at $5,775,000 after acquiring an additional 2,238 shares in the last quarter. Meyer Handelman Co. raised its stake in shares of AbbVie by 6.4% in the first quarter. Meyer Handelman Co. now owns 95,216 shares of the company’s stock valued at $6,204,000 after acquiring an additional 5,766 shares in the last quarter. Finally, Hamlin Capital Management LLC increased its holdings in AbbVie by 14.6% in the first quarter. Hamlin Capital Management LLC now owns 1,244,866 shares of the company’s stock valued at $81,115,000 after buying an additional 158,763 shares during the last quarter. Hedge funds and other institutional investors own 68.49% of the company’s stock.

Shares of AbbVie (ABBV) opened at $92.31 on Friday. The firm has a market capitalization of $145.09 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the business earned $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts predict that AbbVie will post 5.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date is Thursday, January 11th. 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 dividend yield of 3.08%. AbbVie’s dividend payout ratio is 62.29%.

ABBV has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Evercore ISI restated an “outperform” rating and set a $100.00 price target (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Credit Suisse Group restated a “neutral” rating and set a $74.00 price target (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Barclays PLC restated a “hold” rating and set a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Finally, Cowen and Company upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $91.17 to $105.00 in a report on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $93.68.

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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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