Unusual Put Option Trade in Abbvie Worth $1,585K

On May 1, 2023 at 11:32:44 ET an unusually large $1,585.00K block of Put contracts in Abbvie (ABBV) was sold, with a strike price of $150.00 / share, expiring in 627 day(s) (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 5.38 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in ABBV options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 4530 funds or institutions reporting positions in Abbvie. This is an increase of 146 owner(s) or 3.33% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.76%, a decrease of 2.17%. Total shares owned by institutions increased in the last three months by 1.16% to 1,439,156K shares. The put/call ratio of ABBV is 0.87, indicating a bullish outlook.

Analyst Price Forecast Suggests 11.43% Upside

As of April 24, 2023, the average one-year price target for Abbvie is $168.39. The forecasts range from a low of $136.35 to a high of $210.00. The average price target represents an increase of 11.43% from its latest reported closing price of $151.12.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Abbvie is $55,229MM, a decrease of 2.66%. The projected annual non-GAAP EPS is $11.88.

What are Other Shareholders Doing?

Goodwin Daniel L holds 2K shares representing 0.00% ownership of the company.

NSBAX – Nuveen Santa Barbara Dividend Growth Fund – holds 957K shares representing 0.05% ownership of the company. In it’s prior filing, the firm reported owning 1,013K shares, representing a decrease of 5.81%. The firm decreased its portfolio allocation in ABBV by 4.06% over the last quarter.

Chapin Davis holds 11K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 11K shares, representing an increase of 1.62%. The firm increased its portfolio allocation in ABBV by 89,180.28% over the last quarter.

Garrett Investment Advisors holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 4K shares, representing an increase of 10.65%. The firm decreased its portfolio allocation in ABBV by 1.16% over the last quarter.

Hikari Tsushin holds 110K shares representing 0.01% ownership of the company. No change in the last quarter.

Abbvie Declares $1.48 Dividend

On February 16, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of April 14, 2023 will receive the payment on May 15, 2023. Previously, the company paid $1.48 per share.

At the current share price of $151.12 / share, the stock’s dividend yield is 3.92%. Looking back five years and taking a sample every week, the average dividend yield has been 4.73%, the lowest has been 3.32%, and the highest has been 7.32%. The standard deviation of yields is 0.77 (n=237).

The current dividend yield is 1.05 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 1.38. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.

Abbvie Background Information
(This description is provided by the company.)

AbbVie’s mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people’s lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women’s health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.

See all Abbvie regulatory filings.

This article originally appeared on Fintel

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