William Blair Estimates AbbVie’s FY2024 Earnings (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) – Analysts at William Blair upped their FY2024 EPS estimates for shares of AbbVie in a report released on Wednesday, October 30th. William Blair analyst M. Phipps now expects that the company will earn $10.93 per share for the year, up from their previous estimate of $10.90. William Blair currently has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.90 per share. William Blair also issued estimates for AbbVie’s Q4 2024 earnings at $2.95 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $3.02 EPS, Q4 2025 earnings at $3.27 EPS, FY2025 earnings at $12.11 EPS and FY2026 earnings at $13.14 EPS.

ABBV has been the topic of a number of other reports. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. BMO Capital Markets raised their target price on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Price Performance

Shares of ABBV stock opened at $203.87 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market capitalization of $360.10 billion, a P/E ratio of 70.79, a P/E/G ratio of 2.76 and a beta of 0.63. The company’s 50-day simple moving average is $194.00 and its two-hundred day simple moving average is $179.09. AbbVie has a one year low of $135.85 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

A number of institutional investors and hedge funds have recently bought and sold shares of the business. J.P. Marvel Investment Advisors LLC raised its stake in AbbVie by 0.5% during the third quarter. J.P. Marvel Investment Advisors LLC now owns 85,671 shares of the company’s stock worth $16,918,000 after purchasing an additional 411 shares during the period. Verity Asset Management Inc. raised its stake in AbbVie by 7.1% during the third quarter. Verity Asset Management Inc. now owns 1,754 shares of the company’s stock worth $347,000 after purchasing an additional 116 shares during the period. Lewis Asset Management LLC raised its stake in AbbVie by 3.4% during the third quarter. Lewis Asset Management LLC now owns 10,687 shares of the company’s stock worth $2,110,000 after purchasing an additional 354 shares during the period. Lifestyle Asset Management Inc. raised its stake in AbbVie by 14.0% during the third quarter. Lifestyle Asset Management Inc. now owns 1,489 shares of the company’s stock worth $294,000 after purchasing an additional 183 shares during the period. Finally, TFB Advisors LLC raised its stake in AbbVie by 3.4% during the third quarter. TFB Advisors LLC now owns 1,783 shares of the company’s stock worth $352,000 after purchasing an additional 59 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company Profile

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.