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%.
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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