What is William Blair's Forecast for AbbVie FY2024 Earnings?

AbbVie Inc. (NYSE:ABBV - Free Report) - Investment analysts at William Blair lowered their FY2024 EPS estimates for shares of AbbVie in a research note issued on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the company will earn $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. William Blair also issued estimates for AbbVie's Q4 2024 earnings at $2.08 EPS.

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

ABBV has been the subject of a number of other research reports. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price objective for the company. Daiwa America lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. Finally, Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.50.

AbbVie Trading Down 0.4 %

ABBV stock traded down $0.62 during mid-day trading on Thursday, hitting $170.05. 5,478,048 shares of the company were exchanged, compared to its average volume of 6,053,075. AbbVie has a 12-month low of $153.58 and a 12-month high of $207.32. 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. The business has a fifty day simple moving average of $175.74 and a 200-day simple moving average 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is currently 227.78%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently modified their holdings of the stock. GGM Financials LLC lifted its position in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc boosted its stake in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. grew its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after acquiring an additional 52 shares during the period. First Citizens Financial Corp raised its position in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after acquiring an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its holdings in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock valued at $2,710,000 after acquiring an additional 53 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

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.