Zacks: Brokerages Expect AbbVie Inc (NYSE:ABBV) Will Post Earnings of $2.26 Per Share
Equities analysts expect AbbVie Inc (NYSE:ABBV) to post $2.26 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $2.18 and the highest estimate coming in at $2.31. AbbVie reported earnings per share of $2.14 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings report on Friday, November 1st.
According to Zacks, analysts expect that AbbVie will report full year earnings of $8.87 per share for the current year, with EPS estimates ranging from $8.80 to $9.03. For the next year, analysts anticipate that the company will post earnings of $9.55 per share, with EPS estimates ranging from $8.97 to $10.60. Zacks’ EPS calculations are an average based on a survey of research firms that cover AbbVie.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share.
Shares of ABBV stock traded down $0.22 on Friday, reaching $64.31. The company had a trading volume of 2,502,801 shares, compared to its average volume of 7,974,242. The firm has a market capitalization of $96.96 billion, a PE ratio of 8.13, a PEG ratio of 1.56 and a beta of 0.96. AbbVie has a one year low of $63.31 and a one year high of $100.23. The firm has a 50-day simple moving average of $68.77.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 6.66%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio is currently 54.11%.
In other news, EVP Henry O. Gosebruch bought 30,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $67.28 per share, with a total value of $2,018,400.00. Following the transaction, the executive vice president now owns 75,763 shares of the company’s stock, valued at approximately $5,097,334.64. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William J. Chase bought 30,400 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were purchased at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Insiders bought 136,900 shares of company stock valued at $9,126,370 in the last ninety days. 0.08% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in ABBV. Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at approximately $1,300,469,000. FMR LLC increased its position in AbbVie by 56.5% during the 1st quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after purchasing an additional 4,765,946 shares during the period. BlackRock Inc. increased its position in AbbVie by 3.3% during the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares during the period. Renaissance Technologies LLC increased its position in AbbVie by 83.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock valued at $330,043,000 after purchasing an additional 2,064,486 shares during the period. Finally, Panagora Asset Management Inc. increased its position in AbbVie by 532.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,588,784 shares of the company’s stock valued at $115,536,000 after purchasing an additional 1,337,547 shares during the period. 68.15% of the stock is owned by institutional investors and hedge funds.
AbbVie Company Profile
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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