$2.76 EPS Expected for AbbVie Inc. (NYSE:ABBV) This Quarter

Wall Street brokerages expect AbbVie Inc. (NYSE:ABBV) to report earnings per share (EPS) of $2.76 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for AbbVie’s earnings. The lowest EPS estimate is $2.14 and the highest is $3.01. AbbVie posted earnings of $2.42 per share in the same quarter last year, which suggests a positive year over year growth rate of 14%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, April 30th.

On average, analysts expect that AbbVie will report full-year earnings of $12.50 per share for the current fiscal year, with EPS estimates ranging from $12.35 to $12.75. For the next financial year, analysts forecast that the firm will post earnings of $13.92 per share, with EPS estimates ranging from $13.25 to $14.65. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow AbbVie.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The company’s revenue for the quarter was up 59.2% on a year-over-year basis.

A number of brokerages have recently issued reports on ABBV. Mizuho increased their price target on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, February 9th. Morgan Stanley lowered their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. Royal Bank of Canada started coverage on shares of AbbVie in a research note on Wednesday. They issued a $135.00 target price on the stock. Finally, SVB Leerink raised their target price on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $115.65.

In other news, SVP Elaine K. Sorg sold 8,440 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.61, for a total value of $916,668.40. Following the transaction, the senior vice president now owns 26,035 shares in the company, valued at $2,827,661.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the transaction, the chief executive officer now owns 450,981 shares in the company, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock worth $21,511,667 over the last quarter. Company insiders own 0.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Selective Wealth Management Inc. lifted its stake in AbbVie by 16.3% in the fourth quarter. Selective Wealth Management Inc. now owns 672 shares of the company’s stock worth $72,000 after acquiring an additional 94 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in AbbVie by 0.5% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 18,259 shares of the company’s stock worth $1,957,000 after acquiring an additional 97 shares during the period. Aurora Investment Counsel lifted its stake in AbbVie by 1.0% in the third quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock worth $941,000 after acquiring an additional 98 shares during the period. Kalos Management Inc. lifted its stake in AbbVie by 3.1% in the fourth quarter. Kalos Management Inc. now owns 3,247 shares of the company’s stock worth $344,000 after acquiring an additional 98 shares during the period. Finally, Central Bank & Trust Co. lifted its stake in AbbVie by 10.7% in the fourth quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock worth $111,000 after acquiring an additional 100 shares during the period. 67.49% of the stock is owned by institutional investors.

Shares of AbbVie stock traded up $1.44 on Friday, reaching $107.54. The stock had a trading volume of 5,977,497 shares, compared to its average volume of 7,499,311. AbbVie has a 1 year low of $78.66 and a 1 year high of $113.41. The company has a market cap of $189.79 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The business’s 50 day moving average is $106.60 and its two-hundred day moving average is $101.13.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Wednesday, April 14th. AbbVie’s payout ratio is currently 58.17%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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