AbbVie Inc (NYSE:ABBV) – Stock analysts at Leerink Swann upped their Q3 2018 earnings estimates for AbbVie in a research note issued on Monday, October 15th. Leerink Swann analyst G. Porges now expects that the company will post earnings per share of $2.03 for the quarter, up from their prior forecast of $2.02. Leerink Swann also issued estimates for AbbVie’s Q4 2018 earnings at $2.09 EPS, FY2018 earnings at $8.01 EPS, FY2019 earnings at $9.06 EPS, FY2020 earnings at $9.66 EPS and FY2021 earnings at $10.32 EPS.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.02. The company had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share.
A number of other research analysts have also recently commented on the company. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Sunday, October 14th. Bank of America reduced their price objective on AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Monday, October 1st. BMO Capital Markets restated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research note on Wednesday, August 22nd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $100.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $106.98.
Shares of ABBV opened at $89.90 on Wednesday. The stock has a market cap of $143.22 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.91 and a beta of 1.54. AbbVie has a 12 month low of $85.24 and a 12 month high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is 68.57%.
In other news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC increased its holdings in AbbVie by 7.4% in the first quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock valued at $688,000 after buying an additional 500 shares during the last quarter. Baxter Bros Inc. increased its holdings in AbbVie by 19.6% in the first quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock valued at $289,000 after buying an additional 500 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in AbbVie by 7.4% in the first quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock valued at $690,000 after buying an additional 501 shares during the last quarter. HMS Capital Management LLC increased its holdings in AbbVie by 3.7% in the first quarter. HMS Capital Management LLC now owns 14,220 shares of the company’s stock valued at $1,346,000 after buying an additional 506 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in AbbVie by 1.9% in the first quarter. AdvisorNet Financial Inc now owns 26,613 shares of the company’s stock valued at $2,519,000 after buying an additional 508 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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