AbbVie Inc. (ABBV) Issues FY17 Earnings Guidance

AbbVie Inc. (NYSE:ABBV) updated its FY17 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $5.53-5.55 for the period, compared to the Thomson Reuters consensus estimate of $5.54. AbbVie also updated its FY18 guidance to $6.37-6.57 EPS.

A number of research analysts have commented on ABBV shares. BidaskClub upgraded AbbVie from a buy rating to a strong-buy rating in a research note on Saturday. Piper Jaffray Companies reissued a buy rating and set a $85.00 price objective on shares of AbbVie in a research report on Thursday, August 3rd. Barclays PLC reaffirmed a hold rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reiterated an outperform rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Finally, Zacks Investment Research lowered AbbVie from a buy rating to a hold rating in a research report on Wednesday, November 1st. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $93.68.

Shares of AbbVie Inc. (ABBV) traded down $0.46 during trading hours on Friday, reaching $95.43. 6,170,100 shares of the company were exchanged, compared to its average volume of 6,254,326. The company has a market capitalization of $153,081.67, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. AbbVie Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $98.26. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.25.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. sell-side analysts predict that AbbVie Inc. will post 5.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.

In other news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders sold a total of 33,299 shares of company stock worth $2,952,243 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

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A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of AbbVie by 24.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 740,392 shares of the company’s stock valued at $53,686,000 after purchasing an additional 145,691 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in shares of AbbVie by 11.5% during the 2nd quarter. Spectrum Management Group Inc. now owns 28,100 shares of the company’s stock valued at $2,038,000 after purchasing an additional 2,892 shares during the last quarter. AGF Investments America Inc. grew its holdings in AbbVie by 3.6% in the 2nd quarter. AGF Investments America Inc. now owns 29,064 shares of the company’s stock worth $2,107,000 after acquiring an additional 1,017 shares during the last quarter. Ffcm LLC grew its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the last quarter. Finally, Fiduciary Trust Co. grew its holdings in AbbVie by 3.2% in the 2nd quarter. Fiduciary Trust Co. now owns 321,953 shares of the company’s stock worth $23,345,000 after acquiring an additional 10,113 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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