Brokerages expect AbbVie Inc (NYSE:ABBV) to announce earnings of $1.92 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for AbbVie’s earnings. The lowest EPS estimate is $1.88 and the highest is $2.02. AbbVie posted earnings per share of $1.48 in the same quarter last year, which would indicate a positive year over year growth rate of 29.7%. The company is scheduled to issue its next quarterly earnings results on Friday, January 25th.
According to Zacks, analysts expect that AbbVie will report full-year earnings of $7.93 per share for the current year, with EPS estimates ranging from $7.90 to $8.05. For the next fiscal year, analysts anticipate that the business will post earnings of $8.70 per share, with EPS estimates ranging from $8.30 to $8.88. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for AbbVie.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year.
ABBV has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “sell” rating and issued a $78.00 price target on shares of AbbVie in a report on Wednesday, August 22nd. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Bank of America upped their price target on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Wolfe Research initiated coverage on shares of AbbVie in a report on Tuesday, October 23rd. They issued an “underperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $103.68.
In other news, EVP Michael Severino sold 50,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of ABBV. Capital International Investors boosted its stake in shares of AbbVie by 266.4% during the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock worth $2,609,902,000 after acquiring an additional 20,063,435 shares in the last quarter. Capital World Investors boosted its stake in shares of AbbVie by 74.9% during the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock worth $2,398,457,000 after acquiring an additional 10,858,432 shares in the last quarter. FMR LLC boosted its stake in shares of AbbVie by 22.1% during the 3rd quarter. FMR LLC now owns 8,707,454 shares of the company’s stock worth $823,551,000 after acquiring an additional 1,574,495 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of AbbVie during the 3rd quarter worth about $133,646,000. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of AbbVie by 8,774.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after acquiring an additional 1,089,763 shares in the last quarter. 69.47% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ABBV traded up $0.09 during mid-day trading on Wednesday, hitting $88.31. The company’s stock had a trading volume of 7,245,800 shares, compared to its average volume of 7,169,306. AbbVie has a 1 year low of $77.50 and a 1 year high of $125.86. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20. The firm has a market cap of $134.91 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.83 and a beta of 1.62.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio is presently 68.57%.
AbbVie Company Profile
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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