FY2024 Earnings Estimate for AbbVie Issued By Zacks Research

AbbVie Inc. (NYSE:ABBV) – Zacks Research reduced their FY2024 earnings per share estimates for AbbVie in a research note issued on Wednesday, January 15th. Zacks Research analyst S. Ganoria now expects that the company will post earnings of $10.06 per share for the year, down from their prior estimate of $10.93. The consensus estimate for AbbVie’s current full-year earnings is $10.06 per share. Zacks Research also issued estimates for AbbVie’s Q4 2024 earnings at $2.10 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.94 EPS, Q4 2026 earnings at $3.53 EPS and FY2026 earnings at $13.21 EPS.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Truist Financial cut their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Performance

Shares of ABBV opened at $173.68 on Friday. AbbVie has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $306.91 billion, a PE ratio of 60.30, a PEG ratio of 1.73 and a beta of 0.58. The company’s 50 day moving average price is $176.88 and its 200 day moving average price is $184.54.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 EPS.

Institutional Trading of AbbVie

A number of institutional investors and hedge funds have recently modified their holdings of the company. Groupama Asset Managment increased its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter valued at about $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter valued at about $35,000. Quest Partners LLC lifted its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in AbbVie during the third quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by company insiders.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.78%. AbbVie’s payout ratio is presently 215.28%.

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.