FY2024 Earnings Estimate for AbbVie Issued By Zacks Research

AbbVie Inc. (NYSE:ABBV - Free Report) - Equities researchers at Zacks Research lowered their FY2024 earnings estimates for shares of AbbVie in a report issued on Wednesday, January 15th. Zacks Research analyst S. Ganoria now anticipates that the company will post earnings of $10.06 per share for the year, down from their previous forecast of $10.93. The consensus estimate for AbbVie's current full-year earnings is $10.06 per share. Zacks Research also issued estimates for AbbVie's Q4 2024 earnings at $2.10 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.94 EPS, Q4 2026 earnings at $3.53 EPS and FY2026 earnings at $13.21 EPS.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm posted $2.95 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis.

Other analysts have also issued research reports about the company. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Truist Financial cut their price target on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Argus raised AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Trading Down 1.3 %

ABBV stock traded down $2.21 during midday trading on Friday, reaching $171.49. 7,581,211 shares of the company traded hands, compared to its average volume of 5,538,325. The firm has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie has a 52-week low of $153.58 and a 52-week high of $207.32. The business has a 50 day moving average of $175.78 and a 200-day moving average of $184.47. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

Institutional Trading of AbbVie

A number of institutional investors have recently modified their holdings of the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the 4th quarter worth $35,000. Quest Partners LLC grew its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after buying an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. AbbVie's payout ratio is 215.28%.

AbbVie Company Profile

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.