Traders Buy Large Volume of Call Options on AbbVie (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBVGet Rating) was the target of unusually large options trading on Tuesday. Traders purchased 33,415 call options on the company. This is an increase of 54% compared to the typical volume of 21,664 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ABBV. O Dell Group LLC boosted its stake in AbbVie by 108.7% in the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Bradley & Co. Private Wealth Management LLC boosted its stake in AbbVie by 80.6% in the second quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock valued at $27,000 after buying an additional 79 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in AbbVie by 85.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after buying an additional 93 shares in the last quarter. Activest Wealth Management acquired a new stake in AbbVie in the third quarter valued at about $31,000. Finally, Clear Perspectives Financial Planning LLC acquired a new stake in AbbVie in the third quarter valued at about $33,000. Institutional investors own 68.25% of the company’s stock.

AbbVie Stock Up 1.7 %

ABBV opened at $159.79 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 3.77. The stock has a market cap of $282.59 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. The stock’s fifty day simple moving average is $145.57 and its 200 day simple moving average is $145.75. AbbVie has a 1-year low of $115.10 and a 1-year high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.09. The firm had revenue of $14.81 billion for the quarter, compared to analysts’ expectations of $14.95 billion. AbbVie had a return on equity of 155.88% and a net margin of 23.19%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.33 EPS. As a group, research analysts expect that AbbVie will post 14.01 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be given a $1.48 dividend. The ex-dividend date is Thursday, January 12th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from AbbVie’s previous quarterly dividend of $1.41. AbbVie’s dividend payout ratio (DPR) is presently 75.30%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. StockNews.com initiated coverage on AbbVie in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Atlantic Securities reduced their price target on AbbVie from $162.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, October 31st. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating and reduced their price target for the stock from $155.00 to $140.00 in a research report on Tuesday, November 8th. BMO Capital Markets reduced their price target on AbbVie from $170.00 to $169.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Finally, Morgan Stanley reduced their price target on AbbVie from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.32.

About AbbVie

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. 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), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.