Equities research analysts expect AbbVie Inc (NYSE:ABBV) to post earnings per share of $2.24 for the current quarter, according to Zacks. Two analysts have made estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $2.20 and the highest estimate coming in at $2.27. AbbVie reported earnings per share of $1.90 in the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The company is expected to issue its next quarterly earnings results on Friday, January 24th.
On average, analysts expect that AbbVie will report full year earnings of $8.93 per share for the current fiscal year, with EPS estimates ranging from $8.87 to $9.00. For the next financial year, analysts anticipate that the business will report earnings of $9.41 per share, with EPS estimates ranging from $9.35 to $9.46. Zacks’ EPS averages are an average based on a survey of research analysts that cover AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the business earned $2.14 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year.
ABBV has been the subject of several analyst reports. Cowen set a $90.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Citigroup lifted their price objective on shares of AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. TheStreet cut shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Piper Jaffray Companies boosted their price objective on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. Finally, UBS Group upped their price objective on shares of AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.97.
Shares of ABBV stock traded up $0.26 during midday trading on Friday, hitting $86.98. The company had a trading volume of 6,035,430 shares, compared to its average volume of 7,926,071. The stock has a market cap of $129.74 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.18 and a beta of 0.99. The company’s 50 day simple moving average is $83.51 and its 200 day simple moving average is $74.65. AbbVie has a 52-week low of $62.66 and a 52-week high of $92.99.
The firm also recently declared a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.18 dividend. The ex-dividend date is Tuesday, January 14th. This is an increase from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. AbbVie’s payout ratio is 54.11%.
In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Laura J. Schumacher bought 25,000 shares of AbbVie stock in a transaction on Monday, September 16th. The stock was acquired at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the acquisition, the insider now owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. 0.08% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Nuveen Asset Management LLC increased its stake in AbbVie by 1,715.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock valued at $697,664,000 after buying an additional 9,065,487 shares during the period. BlackRock Inc. lifted its position in AbbVie by 3.3% in the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after acquiring an additional 3,100,309 shares in the last quarter. Putnam Investments LLC boosted its stake in AbbVie by 433.3% during the 2nd quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock valued at $264,327,000 after purchasing an additional 2,953,331 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in AbbVie by 81.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock worth $376,404,000 after purchasing an additional 2,326,510 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in AbbVie by 83.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock worth $330,043,000 after purchasing an additional 2,064,486 shares in the last quarter. 70.48% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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