AbbVie Inc. Expected to Post Q2 2024 Earnings of $2.56 Per Share (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) – Stock analysts at Zacks Research issued their Q2 2024 earnings per share estimates for shares of AbbVie in a research note issued to investors on Tuesday, July 23rd. Zacks Research analyst S. Ganoria expects that the company will post earnings per share of $2.56 for the quarter. The consensus estimate for AbbVie’s current full-year earnings is $10.78 per share. Zacks Research also issued estimates for AbbVie’s FY2024 earnings at $10.76 EPS, Q1 2025 earnings at $2.71 EPS, Q2 2025 earnings at $2.95 EPS, FY2025 earnings at $11.96 EPS, Q1 2026 earnings at $2.93 EPS, Q2 2026 earnings at $3.32 EPS and FY2026 earnings at $13.13 EPS.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 EPS.

Several other brokerages also recently issued reports on ABBV. Piper Sandler reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Tuesday, July 2nd. Wells Fargo & Company raised their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Finally, BMO Capital Markets upped their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $188.71.

AbbVie Stock Performance

Shares of ABBV stock opened at $185.24 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market cap of $327.11 billion, a PE ratio of 54.97, a P/E/G ratio of 2.23 and a beta of 0.64. The company’s fifty day simple moving average is $167.68 and its 200-day simple moving average is $169.55. AbbVie has a 52 week low of $135.85 and a 52 week high of $186.85.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Large investors have recently bought and sold shares of the business. American National Bank boosted its position in AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares during the period. AXS Investments LLC grew its position in shares of AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after acquiring an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares during the period. Finally, Opinicus Capital Inc. bought a new stake in AbbVie in the 4th quarter valued at about $1,296,000. Institutional investors own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.