FY2024 EPS Estimates for AbbVie Decreased by Leerink Partnrs

AbbVie Inc. (NYSE:ABBV - Free Report) - Investment analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for AbbVie in a research note issued on Monday, January 6th. Leerink Partnrs analyst D. Risinger now anticipates that the company will earn $10.06 per share for the year, down from their previous estimate of $10.94. Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for AbbVie's current full-year earnings is $10.96 per share. Leerink Partnrs also issued estimates for AbbVie's Q4 2024 earnings at $2.10 EPS.

ABBV has been the topic of a number of other research reports. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price target on the stock. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price on shares of AbbVie to $195.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Five 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 company's stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $205.50.

AbbVie Trading Down 0.5 %

Shares of ABBV traded down $0.88 during mid-day trading on Thursday, reaching $178.65. The company had a trading volume of 4,486,801 shares, compared to its average volume of 4,910,292. The stock has a market cap of $315.70 billion, a price-to-earnings ratio of 62.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a fifty day simple moving average of $179.04 and a 200-day simple moving average of $184.34. AbbVie has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is 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 on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $26,000. Groupama Asset Managment raised its stake in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter worth about $28,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock valued at $36,000 after buying an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company's stock.

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.