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

AbbVie Inc (NYSE:ABBV) was the target of some unusual options trading activity on Wednesday. Stock traders bought 159,063 call options on the stock. This is an increase of 1,953% compared to the average volume of 7,746 call options.

Shares of AbbVie (ABBV) opened at $100.34 on Friday. AbbVie has a twelve month low of $59.27 and a twelve month high of $101.28. The stock has a market cap of $159,950.00, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.20 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. AbbVie’s dividend payout ratio is currently 62.14%.

In other news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 over the last ninety days. Insiders own 0.23% of the company’s stock.

A number of large investors have recently bought and sold shares of ABBV. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter worth $106,000. Hudock Capital Group LLC raised its position in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC raised its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new position in AbbVie during the third quarter worth $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in AbbVie during the second quarter worth $115,000. Institutional investors own 69.18% of the company’s stock.

Several research firms have recently commented on ABBV. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective on the stock. in a report on Monday, January 8th. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Thursday. Barclays reaffirmed a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reissued an “outperform” rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.94.

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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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