AbbVie Inc Can’t Be More Risky. Option Traders Sell It

 AbbVie Inc Can't Be More Risky. Option Traders Sell It

In today’s session AbbVie Inc (ABBV) recorded an unusually high (921) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious ABBV decrease. With 921 contracts traded and 99064 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: ABBV170120P00050000 closed last at: $0.71 or 7.6% up. About 2.91 million shares traded hands. AbbVie Inc (NYSE:ABBV) has risen 5.17% since March 14, 2016 and is uptrending. It has underperformed by 0.44% 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 $1.92B for 12.56 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. Abbvie Inc has been the topic of 27 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “” rating by Citigroup given on Monday, September 28. The company was initiated on Friday, February 5 by William Blair. Raymond James initiated it with “Outperform” rating and $82 target price in Friday, September 2 report. The firm earned “Hold” rating on Tuesday, March 15 by Deutsche Bank. Goldman Sachs downgraded it to “Buy” rating and $68 target price in Monday, March 7 report. Morgan Stanley upgraded the shares of ABBV in a report on Monday, November 2 to “Overweight” rating. The rating was upgraded by Citigroup to “Buy” on Tuesday, February 23. Morgan Stanley downgraded AbbVie Inc (NYSE:ABBV) on Wednesday, June 8 to “Equal-Weight” rating. The firm has “Neutral” rating by Atlantic Securities given on Friday, December 18. Societe Generale initiated AbbVie Inc (NYSE:ABBV) on Wednesday, April 6 with “Sell” rating.

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 worsened, 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.
Moreover, Private Asset Mgmt Incorporated has 0.15% invested in AbbVie Inc (NYSE:ABBV) for 13,936 shares. King Wealth Mgmt Ltd Liability Company last reported 29,853 shares in the company. Parsec Management has 7,144 shares for 0.04% of their US portfolio. Trustco State Bank Corp N Y accumulated 32,945 shares or 2.06% of the stock. Sns Fincl Gp Limited Company holds 90,281 shares or 1.4% of its portfolio. Anchor Cap Advsr Ltd Llc last reported 11,250 shares in the company. Argi Inv Svcs Limited Liability Corp reported 34,906 shares or 0.22% of all its holdings. Marietta Prtnrs Ltd Liability has 34,572 shares for 0.76% of their US portfolio. Fort Point Prtn Ltd Liability Com last reported 115,872 shares in the company. Homrich & Berg owns 13,450 shares or 0.08% of their US portfolio. Bragg Financial Inc has invested 0.44% of its portfolio in AbbVie Inc (NYSE:ABBV). Moreover, Blackrock Japan has 0.49% invested in AbbVie Inc (NYSE:ABBV) for 2.20M shares. Ironwood Financial Limited accumulated 0.01% or 214 shares. Eqis Capital Mngmt has 0.05% invested in the company for 12,671 shares. Coastland Capital Lc, a California-based fund reported 125,000 shares.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 6 insider sales for $28.75 million net activity. 47,438 shares with value of $3.01M were sold by ALBAN CARLOS on Tuesday, May 10. GONZALEZ RICHARD A had sold 285,953 shares worth $18.25M on Thursday, June 2. $381,541 worth of AbbVie Inc (NYSE:ABBV) was sold by HURWICH THOMAS A. on Tuesday, May 10. 21,583 AbbVie Inc (NYSE:ABBV) shares with value of $1.37M were sold by RICHMOND TIMOTHY J.. On Wednesday, September 7 Schumacher Laura J sold $3.25 million worth of the stock or 50,000 shares.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $96.63 billion. The Firm develops and markets therapies that address a range of diseases. It has a 17.29 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.

Another recent and important AbbVie Inc (NYSE:ABBV) news was published by Reuters.com which published an article titled: “EMA committee conditionally approves AbbVie leukemia drug” on October 14, 2016.

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