FY2024 Earnings Estimate for AbbVie Issued By Zacks Research

AbbVie Inc. (NYSE:ABBV) – Investment analysts at Zacks Research increased their FY2024 earnings per share estimates for AbbVie in a report released on Wednesday, November 20th. Zacks Research analyst S. Ganoria now expects that the company will earn $10.93 per share for the year, up from their previous estimate of $10.81. The consensus estimate for AbbVie’s current full-year earnings is $10.95 per share.

Several other research firms have also recently commented on ABBV. Morgan Stanley decreased their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Citigroup cut their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Trading Up 2.3 %

NYSE ABBV opened at $181.16 on Monday. The business has a 50 day simple moving average of $188.85 and a 200 day simple moving average of $181.58. AbbVie has a one year low of $137.65 and a one year high of $207.32. The stock has a market capitalization of $320.14 billion, a P/E ratio of 62.90, a P/E/G ratio of 2.16 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

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

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Institutional Trading of AbbVie

A number of large investors have recently bought and sold shares of the company. GGM Financials LLC increased its position in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its position in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares during the last quarter. Dillon & Associates Inc. increased its position in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares during the last quarter. Frisch Financial Group Inc. increased its position in AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp grew its position in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.