Brokerages expect that AbbVie Inc (NYSE:ABBV) will post sales of $8.76 billion for the current quarter, according to Zacks. Two analysts have made estimates for AbbVie’s earnings, with estimates ranging from $8.72 billion to $8.80 billion. AbbVie posted sales of $8.31 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The business is expected to issue its next quarterly earnings results on Friday, January 24th.
On average, analysts expect that AbbVie will report full-year sales of $33.32 billion for the current year, with estimates ranging from $33.29 billion to $33.36 billion. For the next financial year, analysts forecast that the business will post sales of $36.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow AbbVie.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 EPS.
AbbVie stock opened at $87.03 on Tuesday. The firm has a market capitalization of $129.74 billion, a P/E ratio of 11.00, a PEG ratio of 2.18 and a beta of 0.99. AbbVie has a 1 year low of $62.66 and a 1 year high of $94.98. The business has a 50-day moving average of $82.51 and a 200-day moving average of $74.51.
The firm also recently disclosed a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.18 dividend. The ex-dividend date is Tuesday, January 14th. This is a positive change from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. AbbVie’s payout ratio is currently 54.11%.
In related news, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the completion of the transaction, the insider now directly owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $33,000. TD Capital Management LLC acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $33,000. Financial Gravity Wealth Inc. increased its holdings in shares of AbbVie by 82.9% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 228 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $39,000. Finally, Kempen Capital Management N.V. acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.
AbbVie Company Profile
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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