AbbVie Inc (NYSE:ABBV) – Research analysts at Piper Jaffray Companies decreased their Q2 2019 earnings per share (EPS) estimates for AbbVie in a research report issued on Monday, July 15th. Piper Jaffray Companies analyst C. Raymond now anticipates that the company will earn $2.22 per share for the quarter, down from their prior forecast of $2.23. Piper Jaffray Companies also issued estimates for AbbVie’s Q1 2020 earnings at $2.28 EPS, Q2 2020 earnings at $2.49 EPS and Q3 2020 earnings at $2.61 EPS.
A number of other research firms have also recently issued reports on ABBV. Leerink Swann raised AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. ValuEngine cut Yirendai from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Citigroup reissued a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $94.76.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. During the same period in the previous year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.26%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In other news, EVP William J. Chase purchased 30,400 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the acquisition, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roxanne S. Austin purchased 11,500 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the acquisition, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of ABBV. Prime Capital Investment Advisors LLC bought a new stake in AbbVie during the fourth quarter worth about $27,000. Weaver Consulting Group bought a new stake in AbbVie during the first quarter worth about $25,000. Penserra Capital Management LLC bought a new stake in AbbVie during the fourth quarter worth about $32,000. Arbor Wealth Management LLC bought a new stake in AbbVie during the second quarter worth about $28,000. Finally, Larson Financial Group LLC bought a new stake in AbbVie during the fourth quarter worth about $37,000. Institutional investors own 68.31% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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