Analysts Expect AbbVie Inc (NYSE:ABBV) Will Post Quarterly Sales of $8.76 Billion

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.

Several research firms have recently issued reports on ABBV. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. UBS Group boosted their target price on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup boosted their target price on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Cowen set a $90.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.97.

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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