Equities research analysts predict that AbbVie Inc (NYSE:ABBV) will post $8.20 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for AbbVie’s earnings, with estimates ranging from $8.09 billion to $8.37 billion. AbbVie reported sales of $7.00 billion during the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The company is expected to announce its next earnings report on Friday, October 26th.

According to Zacks, analysts expect that AbbVie will report full year sales of $32.83 billion for the current year, with estimates ranging from $32.43 billion to $33.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $34.61 billion per share, with estimates ranging from $33.98 billion to $35.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for AbbVie.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. AbbVie’s revenue for the quarter was up 19.2% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, June 27th. ValuEngine downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Berenberg Bank assumed coverage on shares of AbbVie in a research note on Thursday, July 12th. They set a “hold” rating and a $105.00 price objective for the company. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average target price of $105.88.

ABBV traded up $0.98 during trading on Wednesday, hitting $96.78. 5,865,600 shares of the company’s stock were exchanged, compared to its average volume of 7,693,325. The company has a quick ratio of 1.10, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. AbbVie has a 1 year low of $69.47 and a 1 year high of $125.86. The company has a market cap of $145.07 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.87 and a beta of 1.56.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.97%. AbbVie’s payout ratio is currently 68.57%.

In other news, SVP Timothy J. Richmond sold 17,588 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $99.47, for a total transaction of $1,749,478.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glenn F. Tilton bought 5,400 shares of AbbVie stock in a transaction dated Wednesday, June 27th. The shares were purchased at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the transaction, the director now owns 39,735 shares of the company’s stock, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covington Capital Management raised its holdings in AbbVie by 0.8% in the fourth quarter. Covington Capital Management now owns 55,518 shares of the company’s stock valued at $5,369,000 after acquiring an additional 449 shares in the last quarter. San Francisco Sentry Investment Group CA raised its holdings in AbbVie by 15.3% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock valued at $327,000 after acquiring an additional 450 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in AbbVie by 8.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock valued at $577,000 after acquiring an additional 455 shares in the last quarter. Annex Advisory Services LLC raised its holdings in AbbVie by 1.1% in the fourth quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock valued at $4,186,000 after acquiring an additional 478 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its holdings in AbbVie by 4.2% in the first quarter. Crescent Grove Advisors LLC now owns 12,457 shares of the company’s stock valued at $1,179,000 after acquiring an additional 500 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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