AbbVie Inc (NYSE:ABBV) Expected to Post Earnings of $2.29 Per Share

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Brokerages expect that AbbVie Inc (NYSE:ABBV) will post $2.29 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $2.23 and the highest estimate coming in at $2.33. AbbVie reported earnings of $2.14 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is scheduled to report its next earnings results before the market opens on Friday, November 1st.

According to Zacks, analysts expect that AbbVie will report full-year earnings of $8.93 per share for the current financial year, with EPS estimates ranging from $8.87 to $9.03. For the next fiscal year, analysts forecast that the business will post earnings of $9.36 per share, with EPS estimates ranging from $9.26 to $9.46. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover AbbVie.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. AbbVie’s revenue for the quarter was down .3% on a year-over-year basis.

Several research firms have issued reports on ABBV. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Piper Jaffray Companies boosted their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and boosted their price target for the company from $87.00 to $90.00 in a report on Thursday, September 26th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a report on Wednesday, June 26th. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.51.

In other news, Director Roxanne S. Austin bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares of the company’s stock, valued at $4,121,263.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Henry O. Gosebruch bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the completion of the transaction, the executive vice president now directly owns 75,763 shares of the company’s stock, valued at approximately $5,097,334.64. The disclosure for this purchase can be found here. Insiders bought 183,077 shares of company stock worth $10,705,751 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Wealth Architects LLC purchased a new stake in AbbVie during the third quarter valued at approximately $218,000. Rhumbline Advisers raised its position in AbbVie by 1.0% during the third quarter. Rhumbline Advisers now owns 2,344,237 shares of the company’s stock valued at $177,506,000 after purchasing an additional 23,679 shares during the period. AdvisorNet Financial Inc raised its position in AbbVie by 36.0% during the third quarter. AdvisorNet Financial Inc now owns 37,948 shares of the company’s stock valued at $2,873,000 after purchasing an additional 10,048 shares during the period. FormulaFolio Investments LLC raised its position in AbbVie by 9.3% during the third quarter. FormulaFolio Investments LLC now owns 23,394 shares of the company’s stock valued at $1,771,000 after purchasing an additional 1,997 shares during the period. Finally, Colrain Capital LLC raised its position in AbbVie by 74.0% during the third quarter. Colrain Capital LLC now owns 36,985 shares of the company’s stock valued at $2,801,000 after purchasing an additional 15,725 shares during the period. Institutional investors own 68.22% of the company’s stock.

NYSE:ABBV traded down $0.12 during mid-day trading on Wednesday, hitting $77.75. 6,195,206 shares of the company traded hands, compared to its average volume of 7,951,895. The stock’s fifty day moving average price is $72.73 and its 200-day moving average price is $73.57. AbbVie has a one year low of $62.66 and a one year high of $94.98. The firm has a market cap of $114.29 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99.

The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s payout ratio is 54.11%.

About AbbVie

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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