AbbVie Inc. (NYSE:ABBV) Expected to Announce Earnings of $1.40 Per Share
Equities analysts expect AbbVie Inc. (NYSE:ABBV) to report earnings of $1.40 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for AbbVie’s earnings. The highest EPS estimate is $1.42 and the lowest is $1.37. AbbVie reported earnings of $1.26 per share during the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, July 28th.
According to Zacks, analysts expect that AbbVie will report full-year earnings of $5.52 per share for the current fiscal year, with EPS estimates ranging from $5.47 to $5.57. For the next year, analysts expect that the firm will post earnings of $6.55 per share, with EPS estimates ranging from $6.26 to $7.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.02. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year.
ABBV has been the topic of several recent analyst reports. Zacks Investment Research cut AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 target price on the stock in a research note on Monday, May 8th. Deutsche Bank AG upped their target price on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Societe Generale raised AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $73.42.
In other news, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the sale, the chief financial officer now directly owns 209,043 shares in the company, valued at $13,660,960.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Alban sold 43,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $67.00, for a total value of $2,881,000.00. Following the sale, the executive vice president now owns 114,745 shares of the company’s stock, valued at $7,687,915. The disclosure for this sale can be found here. Over the last quarter, insiders sold 278,135 shares of company stock valued at $18,841,085. 0.23% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its stake in shares of AbbVie by 471.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,801,318 shares of the company’s stock valued at $175,449,000 after buying an additional 2,311,080 shares in the last quarter. Elkfork Partners LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at $1,484,000. Frontier Wealth Management LLC increased its stake in shares of AbbVie by 3.8% in the fourth quarter. Frontier Wealth Management LLC now owns 24,574 shares of the company’s stock valued at $1,539,000 after buying an additional 889 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of AbbVie during the fourth quarter valued at $1,117,000. Finally, LVW Advisors LLC increased its stake in shares of AbbVie by 2.0% in the fourth quarter. LVW Advisors LLC now owns 42,679 shares of the company’s stock valued at $2,673,000 after buying an additional 846 shares in the last quarter. Institutional investors own 68.02% of the company’s stock.
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AbbVie (ABBV) traded up 0.96% on Wednesday, reaching $71.88. The company had a trading volume of 4,860,230 shares. AbbVie has a 1-year low of $55.06 and a 1-year high of $73.67. The stock has a market capitalization of $114.40 billion, a P/E ratio of 18.63 and a beta of 1.51. The stock’s 50 day moving average is $68.61 and its 200-day moving average is $64.71. AbbVie also saw unusually large options trading on Monday. Stock traders purchased 278 put options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 126 put options.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.56%. AbbVie’s dividend payout ratio is currently 66.32%.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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