AbbVie Target of Unusually High Options Trading (NYSE:ABBV)


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AbbVie Inc. (NYSE:ABBV) saw some unusual options trading activity on Wednesday. Traders bought 534,129 call options on the company. This is an increase of 1,860% compared to the average daily volume of 27,251 call options.

In other AbbVie news, CEO Richard A. Gonzalez sold 231,604 shares of the company’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $96.88, for a total transaction of $22,437,795.52. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the company’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the sale, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at $8,007,195. The disclosure for this sale can be found here. Insiders have sold 308,884 shares of company stock valued at $30,552,196 over the last ninety days. Insiders own 0.09% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Aurora Investment Counsel grew its stake in shares of AbbVie by 1.0% in the third quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock worth $941,000 after acquiring an additional 98 shares during the last quarter. Central Bank & Trust Co. lifted its position in AbbVie by 10.7% in the fourth quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock worth $111,000 after purchasing an additional 100 shares during the period. Quad Cities Investment Group LLC lifted its position in AbbVie by 2.5% in the third quarter. Quad Cities Investment Group LLC now owns 4,287 shares of the company’s stock worth $376,000 after purchasing an additional 106 shares during the period. EPG Wealth Management LLC lifted its position in AbbVie by 3.0% in the third quarter. EPG Wealth Management LLC now owns 4,035 shares of the company’s stock worth $353,000 after purchasing an additional 116 shares during the period. Finally, Mendel Money Management lifted its position in AbbVie by 1.1% in the third quarter. Mendel Money Management now owns 11,070 shares of the company’s stock worth $970,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

ABBV has been the subject of a number of research analyst reports. Berenberg Bank initiated coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. Mizuho increased their price target on shares of AbbVie from $111.00 to $117.00 in a research report on Tuesday, December 15th. SVB Leerink increased their price target on shares of AbbVie from $119.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. Finally, BMO Capital Markets began coverage on shares of AbbVie in a research report on Wednesday, November 18th. They issued an “outperform” rating and a $123.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $112.50.

Shares of ABBV stock opened at $112.45 on Thursday. AbbVie has a 12 month low of $62.55 and a 12 month high of $113.41. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The business’s 50 day moving average is $105.61 and its two-hundred day moving average is $96.04. The company has a market cap of $198.53 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.08. The business had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $12.71 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. AbbVie’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. As a group, equities analysts expect that AbbVie will post 10.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be paid a $1.30 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.62%. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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