AbbVie Inc (NYSE:ABBV) – Stock analysts at SunTrust Banks upped their FY2018 earnings per share estimates for AbbVie in a report issued on Tuesday, November 6th. SunTrust Banks analyst J. Boris now expects that the company will earn $7.95 per share for the year, up from their previous estimate of $7.86. SunTrust Banks has a “Buy” rating and a $135.00 price objective on the stock. SunTrust Banks also issued estimates for AbbVie’s Q4 2018 earnings at $1.95 EPS, FY2020 earnings at $10.08 EPS and FY2021 earnings at $10.83 EPS.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share.
Shares of NYSE:ABBV opened at $88.79 on Friday. AbbVie has a 1 year low of $77.50 and a 1 year high of $125.86. The stock has a market cap of $131.68 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 8.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.82%. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s payout ratio is presently 68.57%.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ABBV. Smith Chas P & Associates PA Cpas bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $243,000. Baldwin Investment Management LLC boosted its position in shares of AbbVie by 3.7% in the 3rd quarter. Baldwin Investment Management LLC now owns 27,168 shares of the company’s stock worth $2,570,000 after purchasing an additional 975 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of AbbVie by 4.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 390,568 shares of the company’s stock worth $38,320,000 after purchasing an additional 17,020 shares in the last quarter. Gratus Capital LLC boosted its position in shares of AbbVie by 3.3% in the 3rd quarter. Gratus Capital LLC now owns 85,392 shares of the company’s stock worth $8,076,000 after purchasing an additional 2,691 shares in the last quarter. Finally, FMR LLC boosted its position in shares of AbbVie by 22.1% in the 3rd quarter. FMR LLC now owns 8,707,454 shares of the company’s stock worth $823,551,000 after purchasing an additional 1,574,495 shares in the last quarter. 69.43% of the stock is currently owned by institutional investors and hedge funds.
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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