AbbVie (NYSE:ABBV - Get Free Report) is projected to announce its earnings results before the market opens on Friday, January 31st. Analysts expect the company to announce earnings of $2.98 per share and revenue of $14,812,900.00 billion for the quarter. AbbVie has set its FY24 guidance at $10.90-10.94 EPS.Investors that wish to register for the company's conference call can do so using this link.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, analysts expect AbbVie to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.
AbbVie Stock Performance
ABBV traded down $0.62 during trading on Friday, hitting $170.05. 5,584,343 shares of the stock were exchanged, compared to its average volume of 6,060,435. The firm has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. AbbVie has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a fifty day moving average price of $175.74 and a two-hundred day moving average price of $184.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.
AbbVie Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie's payout ratio is presently 227.78%.
Insider Buying and Selling
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price on the stock. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Finally, Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.50.
Read Our Latest Research Report on AbbVie
AbbVie Company Profile
(
Get Free Report)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
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