Could AbbVie Inc Gain Strenght? Option Traders Don’t Think So

 Could AbbVie Inc Gain Strenght? Option Traders Don't Think So

In today’s session AbbVie Inc (ABBV) recorded an unusually high (401) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2018 put, expecting serious ABBV decrease. With 401 contracts traded and 59464 open interest for the Jan, 18 contract, it seems this is a quite bearish bet. The option with symbol: ABBV180119P00055000 closed last at: $5.1 or 9.7% up. About 622,019 shares traded hands. AbbVie Inc (NYSE:ABBV) has risen 3.04% since April 18, 2016 and is uptrending. It has underperformed by 1.39% 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. Abbvie Inc has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Morgan Stanley upgraded it to “Overweight” rating and $73 target price in Monday, November 2 report. The firm has “Market Perform” rating given on Friday, June 10 by BMO Capital Markets. Atlantic Securities initiated it with “Neutral” rating and $59 target price in Friday, December 18 report. Barclays Capital downgraded the stock to “Equal-Weight” rating in Tuesday, December 1 report. The firm earned “Outperform” rating on Friday, February 5 by William Blair. The firm has “Buy” rating given on Monday, March 7 by Goldman Sachs. The rating was downgraded by JP Morgan to “Neutral” on Thursday, September 8. The firm earned “Sell” rating on Wednesday, April 6 by Societe Generale. UBS maintained the shares of ABBV in a report on Friday, October 23 with “Buy” rating. Cowen & Co downgraded the shares of ABBV in a report on Monday, June 6 to “Market Perform” 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 increased to 1.03 in 2016 Q2. Its up 0.17, from 0.86 in 2016Q1. The ratio improved, 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.
Goldman Sachs Gp holds 6.23M shares or 0.13% of its portfolio. Los Angeles Management And Equity holds 0.21% of its portfolio in AbbVie Inc (NYSE:ABBV) for 395,000 shares. Notis reported 35,041 shares or 1.52% of all its holdings. Moreover, Evanson Asset Mgmt has 0.18% invested in AbbVie Inc (NYSE:ABBV) for 9,692 shares. Marble Harbor Counsel Llc holds 3.11% or 202,198 shares in its portfolio. Moreover, Financial Counselors has 0.84% invested in AbbVie Inc (NYSE:ABBV) for 227,196 shares. Stearns Service holds 23,092 shares or 0.41% of its portfolio. Investment Advsrs accumulated 0.27% or 4,295 shares. Hanlon Mgmt reported 73,216 shares or 0.39% of all its holdings. Moreover, Bbva Compass Natl Bank has 0.16% invested in AbbVie Inc (NYSE:ABBV) for 34,060 shares. Evergreen Capital Mgmt Ltd Liability holds 4,195 shares or 0.06% of its portfolio. Argentus Mngmt Ltd Co, a Texas-based fund reported 13,258 shares. Dana Investment Advsr holds 1.51% of its portfolio in AbbVie Inc (NYSE:ABBV) for 549,337 shares. Suntrust Banks Incorporated has 0.42% invested in the company for 1.11 million shares. Dupont Management Corp has 100,324 shares for 0.14% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 2 insider sales for $21.50 million net activity. $18.25 million worth of AbbVie Inc (NYSE:ABBV) was sold by GONZALEZ RICHARD A. Shares for $3.25M were sold by Schumacher Laura J.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $97.66 billion. The Firm develops and markets therapies that address a range of diseases. It has a 16.5 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 important recent AbbVie Inc (NYSE:ABBV) news were published by: Fool.com which released: “Better Buy: AbbVie Inc. vs. GlaxoSmithKline PLC” on November 18, 2016, also Fool.com published article titled: “Better Buy: Merck & Co. Inc. vs. AbbVie Inc.”, Fool.com published: “AbbVie Inc. Q3 Results: Good but Not Good Enough” on October 28, 2016. More interesting news about AbbVie Inc (NYSE:ABBV) was released by: Prnewswire.com and their article: “AbbVie’s HUMIRA® (Adalimumab) Receives CHMP Positive Opinion to Treat …” with publication date: November 14, 2016.

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