AbbVie Inc Just Recorded A Sigfniciant Bullish Options Activity

 AbbVie Inc Just Recorded A Sigfniciant Bullish Options Activity

In today’s session AbbVie Inc (ABBV) registered an unusually high (320) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the February, 2017 call, expecting serious ABBV increase. With 320 contracts traded and 9884 open interest for the Feb, 17 contract, it seems this is a quite bullish bet. The option with symbol: ABBV170217C00067500 closed last at: $1.41 or 4.7% down. About 1.64M shares traded hands. AbbVie Inc (NYSE:ABBV) has risen 14.44% since March 8, 2016 and is uptrending. It has outperformed by 5.13% the S&P500.

Analysts await AbbVie Inc (NYSE:ABBV) to report earnings on November, 4. They expect $1.20 earnings per share, up 6.19% or $0.07 from last year’s $1.13 per share. ABBV’s profit will be $1.97 billion for 13.05 P/E if the $1.20 EPS becomes a reality. After $1.26 actual earnings per share reported by AbbVie Inc for the previous quarter, Wall Street now forecasts -4.76% negative EPS growth.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Out of 15 analysts covering Abbvie Inc (NYSE:ABBV), 7 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 47% are positive. $85 is the highest target while $55 is the lowest. The $71.17 average target is 13.65% above today’s ($62.62) stock price. Abbvie Inc has been the topic of 27 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Deutsche Bank given on Tuesday, March 15. The company was upgraded on Monday, December 7 by Jefferies. The firm has “Outperform” rating given on Friday, February 5 by William Blair. SunTrust initiated the shares of ABBV in a report on Wednesday, July 22 with “Buy” rating. The stock of AbbVie Inc (NYSE:ABBV) earned “Overweight” rating by Morgan Stanley on Monday, November 2. The rating was upgraded by Citigroup on Monday, September 28 to “”. As per Monday, June 6, the company rating was downgraded by Cowen & Co. JP Morgan downgraded AbbVie Inc (NYSE:ABBV) on Thursday, September 8 to “Neutral” rating. Atlantic Securities initiated the stock with “Neutral” rating in Friday, December 18 report. Raymond James initiated AbbVie Inc (NYSE:ABBV) rating on Friday, September 2. Raymond James has “Outperform” rating and $82 price target.

According to Zacks Investment Research, “AbbVie is a global, research-based biopharmaceutical company. AbbVie combines the focus and passion of a leading-edge biotech with the expertise and structure of a long-established pharmaceutical leader. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie aims to help patients’ live healthier lives and collaborate on sustainable healthcare solutions.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.29, from 1.15 in 2016Q1. The ratio dived, as 86 funds sold all AbbVie Inc shares owned while 593 reduced positions. 75 funds bought stakes while 508 increased positions. They now own 1.06 billion shares or 1.95% less from 1.08 billion shares in 2016Q1.
Aberdeen Asset Management Public Uk has invested 0.17% of its portfolio in AbbVie Inc (NYSE:ABBV). Hennessy Advsr accumulated 0.08% or 41,800 shares. Ent Services, a Missouri-based fund reported 17,343 shares. Riggs Asset Managment last reported 2.61% of its portfolio in the stock. The New York-based Pinebridge Investments Limited Partnership has invested 0.11% in AbbVie Inc (NYSE:ABBV). Ahl Prtnrs Ltd Liability Partnership has invested 0.03% of its portfolio in AbbVie Inc (NYSE:ABBV). Moreover, Halsey Inc Ct has 0.22% invested in AbbVie Inc (NYSE:ABBV) for 15,872 shares. 10 has 0.21% invested in the company for 11,710 shares. Hedeker Wealth Ltd, a Illinois-based fund reported 29,333 shares. Sandy Spring National Bank accumulated 0.71% or 99,453 shares. Ibm Retirement Fund last reported 0.49% of its portfolio in the stock. St Johns Inv Management Llc has 0% invested in the company for 40 shares. Vision Cap Mngmt last reported 1.76% of its portfolio in the stock. Aull Monroe Investment Management Corp owns 30,404 shares or 1.08% of their US portfolio. Spirit Of America Management Corp Ny holds 0.07% of its portfolio in AbbVie Inc (NYSE:ABBV) for 7,700 shares.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 6 selling transactions for $28.75 million net activity. 6,000 shares with value of $381,541 were sold by HURWICH THOMAS A. on Tuesday, May 10. The insider GONZALEZ RICHARD A sold 285,953 shares worth $18.25 million. $3.01 million worth of AbbVie Inc (NYSE:ABBV) was sold by ALBAN CARLOS. Schumacher Laura J sold $3.25 million worth of AbbVie Inc (NYSE:ABBV) on Wednesday, September 7. $1.37 million worth of AbbVie Inc (NYSE:ABBV) shares were sold by RICHMOND TIMOTHY J..

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $102.60 billion. The Firm develops and markets therapies that address a range of diseases. It has a 17.95 P/E ratio. The Firm operates in pharmaceutical products segment.

ABBV Company Profile

AbbVie Inc. (AbbVie), incorporated on April 10, 2012, is a research biopharmaceutical company. The Firm develops and markets therapies that address a range of diseases. The Firm operates in pharmaceutical products segment. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions. AbbVie also has a pipeline of new medicines, including over 50 compounds or indications in clinical development across medical specialties, such as immunology, virology/liver disease, oncology, neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA, IMBRUVICA, HCV products, additional virology products, metabolics/hormones products, endocrinology products and other products.

More news for AbbVie Inc (NYSE:ABBV) were recently published by: Fool.com, which released: “Better Buy: Pfizer Inc. vs. AbbVie Inc.” on September 15, 2016. Seekingalpha.com‘s article titled: “AbbVie Is An Enigma Stock That Keeps Paying Dividends” and published on October 09, 2016 is yet another important article.

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