A Reversal for AbbVie Inc Is Not Near. Professional Options Traders Are Bearish

 A Reversal for AbbVie Inc Is Not Near. Professional Options Traders Are Bearish

In today’s session AbbVie Inc (ABBV) recorded an unusually high (162) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the June, 2017 put, expecting serious ABBV decrease. With 162 contracts traded and 18124 open interest for the Jun, 17 contract, it seems this is a quite bearish bet. The option with symbol: ABBV170616P00057500 closed last at: $3.9 or 10.3% down. About 2.53M shares traded hands. AbbVie Inc (NYSE:ABBV) has declined 0.75% since April 25, 2016 and is downtrending. It has underperformed by 6.77% the S&P500.

Analysts await AbbVie Inc (NYSE:ABBV) to report earnings on February, 3. 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 $1.96 billion for 12.39 P/E if the $1.20 EPS becomes a reality. After $1.21 actual earnings per share reported by AbbVie Inc for the previous quarter, Wall Street now forecasts -0.83% negative EPS growth.

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. Jefferies upgraded AbbVie Inc (NYSE:ABBV) rating on Monday, December 7. Jefferies has “Buy” rating and $55 price target. The rating was initiated by SunTrust with “Buy” on Wednesday, July 22. Credit Suisse downgraded AbbVie Inc (NYSE:ABBV) on Monday, October 31 to “Neutral” rating. As per Friday, October 23, the company rating was maintained by UBS. The company was downgraded on Tuesday, December 1 by Barclays Capital. As per Tuesday, October 18, the company rating was initiated by Leerink Swann. As per Thursday, September 8, the company rating was downgraded by JP Morgan. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Wednesday, June 8 report. Goldman Sachs downgraded it to “Buy” rating and $68 target price in Monday, March 7 report. The company was downgraded on Monday, June 6 by Cowen & Co.

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.
Klingenstein Fields & Company Lc has 28,432 shares for 0.08% of their US portfolio. Conning owns 475,778 shares or 1.22% of their US portfolio. Quantbot Tech Lp accumulated 26,640 shares or 0.18% of the stock. Madison Inc has 10,705 shares for 0.01% of their US portfolio. The New York-based Gabelli Funds Limited Liability Company has invested 0.06% in AbbVie Inc (NYSE:ABBV). Train Babcock Advsr Limited Liability Company holds 12,430 shares or 0.31% of its portfolio. Nwq Investment Communication Ltd Liability Co holds 0.6% or 562,288 shares in its portfolio. Deere holds 0.39% of its portfolio in AbbVie Inc (NYSE:ABBV) for 117,160 shares. St Johns Llc holds 0% of its portfolio in AbbVie Inc (NYSE:ABBV) for 40 shares. Cobblestone Capital Advsrs Lc Ny has invested 0.13% of its portfolio in AbbVie Inc (NYSE:ABBV). South Texas Money Management has invested 0.08% of its portfolio in AbbVie Inc (NYSE:ABBV). Phocas Financial Corp holds 96,692 shares or 0.44% of its portfolio. Cornerstone Capital Incorporated, a California-based fund reported 232,624 shares. Sarissa Management L P last reported 50,000 shares in the company. Thrivent Fincl For Lutherans last reported 0.02% of its portfolio in the stock.

Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 3 selling transactions for $21.69 million net activity. 50,000 shares with value of $3.25 million were sold by Schumacher Laura J on Wednesday, September 7. Shares for $18.25M were sold by GONZALEZ RICHARD A. Another trade for 3,100 shares valued at $192,200 was made by HURWICH THOMAS A. on Wednesday, November 16.

AbbVie Inc. is a research-based biopharmaceutical company. The company has a market cap of $97.21 billion. The Firm develops and markets therapies that address a range of diseases. It has a 16 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: AbbVie Inc. vs. GlaxoSmithKline PLC” on November 18, 2016. Valuewalk.com‘s article titled: “Dividend Aristocrats In Focus Part 28: AbbVie Inc (ABBV)” and published on November 03, 2016 is yet another important article.

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