AbbVie Inc (NYSE:ABBV) – Stock analysts at SunTrust Banks lowered their FY2019 earnings per share estimates for AbbVie in a research note issued to investors on Wednesday, October 17th. SunTrust Banks analyst J. Boris now forecasts that the company will post earnings of $9.06 per share for the year, down from their previous forecast of $9.13. SunTrust Banks also issued estimates for AbbVie’s FY2020 earnings at $10.32 EPS and FY2021 earnings at $11.21 EPS.
ABBV has been the topic of several other reports. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the stock a “sell” rating in a report on Saturday. Bank of America lowered their price objective on AbbVie from $112.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Cowen set a $110.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Finally, BMO Capital Markets reiterated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Friday, July 27th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $106.98.
ABBV stock opened at $87.97 on Monday. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie has a 12-month low of $85.24 and a 12-month high of $125.86. The stock has a market capitalization of $133.21 billion, a P/E ratio of 15.71, a PEG ratio of 0.87 and a beta of 1.54.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the previous year, the firm posted $1.42 EPS. AbbVie’s revenue was up 19.2% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Cornerstone Wealth Management LLC lifted its holdings in AbbVie by 8,774.3% in the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock valued at $11,837,000 after acquiring an additional 1,089,763 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in AbbVie by 7,637.2% in the first quarter. Summit Trail Advisors LLC now owns 997,253 shares of the company’s stock valued at $997,000 after acquiring an additional 984,364 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in AbbVie by 15.9% in the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after acquiring an additional 717,452 shares during the last quarter. Royal London Asset Management Ltd. acquired a new position in AbbVie in the second quarter valued at approximately $62,780,000. Finally, Renaissance Technologies LLC lifted its holdings in AbbVie by 34.6% in the second quarter. Renaissance Technologies LLC now owns 2,362,283 shares of the company’s stock valued at $218,866,000 after acquiring an additional 606,627 shares during the last quarter. Institutional investors and hedge funds own 69.44% of the company’s stock.
In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s dividend payout ratio is currently 68.57%.
AbbVie Company Profile
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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