What is William Blair’s Estimate for AbbVie FY2024 Earnings?

AbbVie Inc. (NYSE:ABBV) – William Blair reduced their FY2024 earnings per share estimates for AbbVie in a research note issued on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the company will post earnings of $10.06 per share for the year, down from their prior forecast of $10.93. The consensus estimate for AbbVie’s current full-year earnings is $10.06 per share. William Blair also issued estimates for AbbVie’s Q4 2024 earnings at $2.08 EPS.

Other research analysts also recently issued reports about the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial reduced their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley dropped their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Trading Up 0.7 %

Shares of NYSE:ABBV opened at $170.42 on Thursday. AbbVie has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market capitalization of $301.15 billion, a PE ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58. The business has a 50 day moving average of $175.72 and a two-hundred day moving average of $184.73. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

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

Hedge Funds Weigh In On AbbVie

Several hedge funds have recently bought and sold shares of ABBV. Mill Creek Capital Advisors LLC raised its position in AbbVie by 9.2% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock valued at $641,000 after purchasing an additional 316 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of AbbVie by 33.0% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock valued at $101,000 after acquiring an additional 146 shares during the last quarter. NBW Capital LLC increased its holdings in shares of AbbVie by 1,167.8% in the 2nd quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock valued at $6,635,000 after acquiring an additional 35,631 shares during the last quarter. Alpha DNA Investment Management LLC increased its holdings in shares of AbbVie by 44.9% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock valued at $3,010,000 after acquiring an additional 5,437 shares during the last quarter. Finally, Alley Investment Management Company LLC increased its holdings in shares of AbbVie by 0.4% in the 2nd quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock valued at $19,594,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a positive change 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 yield of 3.85%. AbbVie’s dividend payout ratio is presently 227.78%.

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.