Equities research analysts forecast that AbbVie Inc. (NYSE:ABBV) will report $15.05 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for AbbVie’s earnings. The highest sales estimate is $15.11 billion and the lowest is $15.02 billion. AbbVie posted sales of $13.86 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is scheduled to announce its next earnings report on Wednesday, February 2nd.
On average, analysts expect that AbbVie will report full year sales of $56.27 billion for the current fiscal year, with estimates ranging from $56.21 billion to $56.35 billion. For the next financial year, analysts forecast that the company will report sales of $60.04 billion, with estimates ranging from $59.08 billion to $61.81 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 issued its quarterly earnings data on Thursday, October 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.22 by $0.11. The business had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.30 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.83 EPS.
AbbVie stock traded down $0.22 during mid-day trading on Thursday, reaching $118.66. 5,792,843 shares of the company traded hands, compared to its average volume of 6,833,980. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The firm’s 50 day moving average price is $111.61 and its 200 day moving average price is $113.90. The firm has a market capitalization of $209.69 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 2.46 and a beta of 0.83. AbbVie has a 52-week low of $101.55 and a 52-week high of $121.53.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be paid a $1.41 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $5.64 dividend on an annualized basis and a yield of 4.75%. AbbVie’s payout ratio is presently 123.81%.
In related news, Director Roxanne S. Austin sold 51,844 shares of the company’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $116.38, for a total value of $6,033,604.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ABBV. Nations Financial Group Inc. IA ADV lifted its stake in AbbVie by 0.9% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 9,813 shares of the company’s stock valued at $1,105,000 after acquiring an additional 86 shares during the period. Adirondack Trust Co. lifted its stake in AbbVie by 0.6% during the 3rd quarter. Adirondack Trust Co. now owns 14,308 shares of the company’s stock valued at $1,641,000 after acquiring an additional 86 shares during the period. Invst LLC lifted its stake in AbbVie by 0.9% during the 2nd quarter. Invst LLC now owns 9,585 shares of the company’s stock valued at $1,126,000 after acquiring an additional 88 shares during the period. Samalin Investment Counsel LLC lifted its stake in AbbVie by 0.9% during the 2nd quarter. Samalin Investment Counsel LLC now owns 10,323 shares of the company’s stock valued at $1,163,000 after acquiring an additional 88 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in AbbVie by 24.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Institutional investors own 65.86% of the company’s stock.
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses 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; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.
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