AbbVie (ABBV) to Release Earnings on Friday

AbbVie (NYSE:ABBV) is scheduled to post its quarterly earnings results before the market opens on Friday, April 26th. Analysts expect AbbVie to post earnings of $2.20 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the business earned $3.60 EPS. AbbVie’s revenue was down 5.4% compared to the same quarter last year. On average, analysts expect AbbVie to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AbbVie Stock Performance

Shares of ABBV opened at $164.66 on Friday. AbbVie has a 12 month low of $130.96 and a 12 month high of $182.89. The business’s fifty day simple moving average is $175.59 and its two-hundred day simple moving average is $159.97. The company has a market cap of $291.56 billion, a price-to-earnings ratio of 60.32, a P/E/G ratio of 2.09 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.77%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new position in AbbVie during the first quarter worth $148,000. Neo Ivy Capital Management acquired a new stake in shares of AbbVie in the 2nd quarter valued at $120,000. O Dell Group LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $118,000. LM Advisors LLC purchased a new stake in AbbVie in the fourth quarter valued at $105,000. Finally, Virtus Investment Advisers Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $84,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.