Could AbbVie Inc Decline After Today’s Tip From Option Traders?

 Could AbbVie Inc Decline After Today's Tip From Option Traders?

In today’s session AbbVie Inc (ABBV) registered an unusually high (2,547) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious ABBV increase. With 2,547 contracts traded and 6274 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: ABBV161118C00057000 closed last at: $0.89 or 32.1% down. About 1.05M shares traded hands. AbbVie Inc (NYSE:ABBV) has declined 4.27% since April 5, 2016 and is downtrending. It has underperformed by 6.23% the S&P500.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Out of 17 analysts covering Abbvie Inc (NYSE:ABBV), 7 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 41% are positive. $85 is the highest target while $55 is the lowest. The $71.08 average target is 24.40% above today’s ($57.14) stock price. Abbvie Inc has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Atlantic Securities initiated the stock with “Neutral” rating in Friday, December 18 report. The rating was initiated by William Blair on Friday, February 5 with “Outperform”. The firm earned “Market Perform” rating on Friday, June 10 by BMO Capital Markets. The firm has “Buy” rating by TheStreet given on Tuesday, August 11. The stock has “Hold” rating given by Deutsche Bank on Tuesday, March 15. The firm earned “Buy” rating on Wednesday, July 22 by SunTrust. The firm has “Overweight” rating given on Monday, November 2 by Morgan Stanley. The stock of AbbVie Inc (NYSE:ABBV) has “Neutral” rating given on Thursday, September 8 by JP Morgan. The firm earned “Buy” rating on Monday, December 7 by Jefferies. The firm has “Buy” rating given on Tuesday, February 23 by Citigroup.

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 2016 Q2. Its down 0.29, from 1.15 in 2016Q1. The ratio fall, 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.
United Bank & Trust Incorporated last reported 0.49% of its portfolio in the stock. The New York-based Fagan has invested 0.92% in AbbVie Inc (NYSE:ABBV). Dearborn Prns Limited Com holds 0.12% of its portfolio in AbbVie Inc (NYSE:ABBV) for 22,234 shares. Us National Bank & Trust De has 0.68% invested in the company for 2.87M shares. Moreover, National Bank Of Nova Scotia has 0.1% invested in AbbVie Inc (NYSE:ABBV) for 12,358 shares. Hgk Asset Mngmt last reported 6,040 shares in the company. Serv Of America last reported 3,536 shares in the company. Oakworth Inc has 0.27% invested in the company for 11,561 shares. 1832 Asset L P owns 17,136 shares or 0% of their US portfolio. Schnieders Mgmt Ltd accumulated 33,216 shares or 1.15% of the stock. Moreover, Comm Of Toledo Na Oh has 0.89% invested in AbbVie Inc (NYSE:ABBV) for 49,860 shares. Eagleclaw Capital Managment Limited Liability Corporation last reported 55,118 shares in the company. Vision Mgmt, a Oregon-based fund reported 67,293 shares. Shelter Retirement Plan reported 79,700 shares or 2.25% of all its holdings. Nationwide Fund Advisors reported 606,093 shares or 0.16% of all its holdings.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 2 insider sales for $21.50 million net activity. GONZALEZ RICHARD A also sold $2.49 million worth of AbbVie Inc (NYSE:ABBV) on Wednesday, May 11. On Tuesday, May 10 HURWICH THOMAS A. sold $381,541 worth of the stock or 6,000 shares. $1.37M worth of shares were sold by RICHMOND TIMOTHY J. on Tuesday, May 10. ALBAN CARLOS sold $3.01M worth of AbbVie Inc (NYSE:ABBV) on Tuesday, May 10. Schumacher Laura J also sold $3.25M worth of AbbVie Inc (NYSE:ABBV) on Wednesday, September 7.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $93.62 billion. The Firm develops and markets therapies that address a range of diseases. It has a 15.37 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 notable recent AbbVie Inc (NYSE:ABBV) news were published by: Fool.com which released: “AbbVie Inc. Q3 Results: Good but Not Good Enough” on October 28, 2016, also Fool.com with their article: “Better Buy: Merck & Co. Inc. vs. AbbVie Inc.” published on October 25, 2016, Fool.com published: “Better Buy: AbbVie Inc. vs. Johnson & Johnson” on October 19, 2016. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Seekingalpha.com and their article: “AbbVie: 4.5% Yield” published on October 31, 2016 as well as Valuewalk.com‘s news article titled: “Hershey Co Rises On Earnings, AbbVie Inc Declines On Sales Miss” with publication date: October 28, 2016.

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