AbbVie Inc (NYSE:ABBV) – Analysts at SunTrust Banks increased their FY2018 earnings estimates for AbbVie in a report issued on Tuesday, November 6th. SunTrust Banks analyst J. Boris now expects that the company will post earnings of $7.95 per share for the year, up from their previous forecast of $7.86. SunTrust Banks has a “Buy” rating and a $135.00 price target on the stock. SunTrust Banks also issued estimates for AbbVie’s Q4 2018 earnings at $1.95 EPS, FY2020 earnings at $10.08 EPS and FY2021 earnings at $10.83 EPS.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS.
Several other equities analysts have also recently weighed in on the company. BMO Capital Markets restated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. ValuEngine cut AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Bank of America raised their price objective on AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Credit Suisse Group set a $85.00 price objective on AbbVie and gave the company a “hold” rating in a report on Friday, November 2nd. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. AbbVie currently has an average rating of “Hold” and a consensus target price of $103.68.
ABBV stock opened at $88.79 on Friday. The stock has a market cap of $126.68 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.79 and a beta of 1.62. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie has a 1 year low of $77.50 and a 1 year high of $125.86.
Large investors have recently modified their holdings of the stock. Verition Fund Management LLC lifted its position in AbbVie by 7.4% during the first quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after acquiring an additional 500 shares during the last quarter. Baxter Bros Inc. lifted its position in AbbVie by 19.6% during the first quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after acquiring an additional 500 shares during the last quarter. Good Life Advisors LLC lifted its position in AbbVie by 5.6% during the second quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after acquiring an additional 537 shares during the last quarter. Lido Advisors LLC lifted its position in AbbVie by 2.4% during the second quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after acquiring an additional 537 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. lifted its position in AbbVie by 20.1% during the first quarter. Budros Ruhlin & Roe Inc. now owns 3,214 shares of the company’s stock worth $304,000 after acquiring an additional 538 shares during the last quarter. Institutional investors and hedge funds own 69.43% of the company’s stock.
In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a $1.07 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio (DPR) is 68.57%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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