Short Interest in AbbVie Inc (ABBV) Increases By 19.4%

AbbVie Inc (NYSE:ABBV) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 30,381,530 shares, an increase of 19.4% from the October 31st total of 25,440,102 shares. Based on an average trading volume of 9,528,376 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.0% of the shares of the company are sold short.

In other AbbVie news, EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now directly owns 30,350 shares of the company’s stock, valued at approximately $2,734,535. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Financial Bank Trust Division lifted its stake in AbbVie by 120.0% in the 2nd quarter. First Financial Bank Trust Division now owns 7,119 shares of the company’s stock valued at $659,000 after purchasing an additional 3,883 shares during the last quarter. Tandem Investment Advisors Inc. lifted its stake in AbbVie by 1.5% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 168,701 shares of the company’s stock valued at $15,630,000 after purchasing an additional 2,531 shares during the last quarter. Bath Savings Trust Co lifted its stake in AbbVie by 17.9% in the 2nd quarter. Bath Savings Trust Co now owns 7,865 shares of the company’s stock valued at $729,000 after purchasing an additional 1,193 shares during the last quarter. West Oak Capital LLC bought a new position in AbbVie in the 2nd quarter valued at approximately $964,000. Finally, DnB Asset Management AS lifted its stake in AbbVie by 2.5% in the 2nd quarter. DnB Asset Management AS now owns 186,995 shares of the company’s stock valued at $17,325,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.

NYSE ABBV opened at $90.55 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. The company has a market cap of $141.80 billion, a P/E ratio of 16.17, a PEG ratio of 0.88 and a beta of 1.67. AbbVie has a 1 year low of $77.50 and a 1 year high of $125.86.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. Equities analysts expect that AbbVie will post 7.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 annualized dividend and a dividend yield of 4.73%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.

A number of research analysts have issued reports on the stock. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research report on Sunday, October 14th. Barclays restated a “hold” rating and set a $90.00 target price on shares of AbbVie in a research report on Sunday, November 4th. Bank of America decreased their target price on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Monday, October 1st. Finally, SunTrust Banks decreased their target price on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and an average target price of $103.68.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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