William Blair Comments on AbbVie Inc’s FY2018 Earnings (ABBV)

AbbVie Inc (NYSE:ABBV) – Investment analysts at William Blair upped their FY2018 earnings per share estimates for shares of AbbVie in a research report issued on Monday, November 5th. William Blair analyst Y. Xu now forecasts that the company will post earnings of $7.90 per share for the year, up from their prior estimate of $7.81. William Blair also issued estimates for AbbVie’s FY2019 earnings at $8.30 EPS.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share.

Several other research firms have also issued reports on ABBV. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $100.00 price target on shares of AbbVie in a research report on Friday, July 27th. BMO Capital Markets reaffirmed a “sell” rating and issued a $78.00 price target on shares of AbbVie in a research report on Wednesday, August 22nd. Wolfe Research initiated coverage on AbbVie in a research report on Tuesday, October 23rd. They issued an “underperform” rating for the company. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Monday, October 1st. Finally, Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average price target of $103.68.

ABBV opened at $87.73 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. The stock has a market capitalization of $126.68 billion, a PE ratio of 15.67, a P/E/G ratio of 0.79 and a beta of 1.62. AbbVie has a 1 year low of $77.50 and a 1 year high of $125.86.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Signature Estate & Investment Advisors LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $112,000. Mainstay Capital Management LLC ADV grew its stake in shares of AbbVie by 6,123.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock valued at $143,000 after purchasing an additional 12,247 shares during the period. First Mercantile Trust Co. bought a new stake in shares of AbbVie during the 2nd quarter valued at about $150,000. MUFG Securities EMEA plc bought a new stake in shares of AbbVie during the 2nd quarter valued at about $157,000. Finally, Rainier Group Investment Advisory LLC bought a new stake in shares of AbbVie during the 1st quarter valued at about $161,000. Institutional investors own 69.43% of the company’s stock.

In related news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.88%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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