Brokers Issue Forecasts for AbbVie Inc.’s Q1 2023 Earnings (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBVGet Rating) – Stock analysts at Zacks Research lowered their Q1 2023 earnings per share estimates for AbbVie in a research note issued to investors on Tuesday, November 22nd. Zacks Research analyst S. Ganoria now forecasts that the company will post earnings of $2.94 per share for the quarter, down from their previous forecast of $2.95. The consensus estimate for AbbVie’s current full-year earnings is $14.01 per share. Zacks Research also issued estimates for AbbVie’s Q2 2023 earnings at $2.88 EPS, Q3 2023 earnings at $2.74 EPS, Q4 2023 earnings at $2.77 EPS, FY2023 earnings at $11.33 EPS, Q1 2024 earnings at $2.76 EPS, Q2 2024 earnings at $2.85 EPS, Q3 2024 earnings at $2.87 EPS and FY2024 earnings at $11.51 EPS.

Other equities research analysts have also issued reports about the company. UBS Group dropped their price target on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Morgan Stanley lowered their price objective on AbbVie from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. StockNews.com initiated coverage on AbbVie in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Piper Sandler lowered their price objective on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Finally, Societe Generale cut AbbVie from a “buy” rating to a “hold” rating and lowered their price objective for the company from $155.00 to $140.00 in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.56.

AbbVie Trading Down 0.3 %

NYSE ABBV opened at $159.39 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 3.77. AbbVie has a twelve month low of $115.10 and a twelve month high of $175.91. The firm has a market capitalization of $281.88 billion, a PE ratio of 21.28, a P/E/G ratio of 4.50 and a beta of 0.69. The stock’s 50 day moving average is $146.31 and its 200 day moving average is $145.94.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.09. AbbVie had a return on equity of 155.88% and a net margin of 23.19%. The company had revenue of $14.81 billion for the quarter, compared to analyst estimates of $14.95 billion. During the same period in the previous year, the company posted $3.33 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.

Institutional Trading of AbbVie

Hedge funds have recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC increased its position in AbbVie by 80.6% during the second quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock valued at $27,000 after acquiring an additional 79 shares during the last quarter. O Dell Group LLC increased its position in AbbVie by 108.7% during the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in AbbVie by 85.3% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after acquiring an additional 93 shares during the last quarter. Activest Wealth Management purchased a new stake in AbbVie during the third quarter valued at $31,000. Finally, Heritage Wealth Management LLC purchased a new stake in AbbVie during the second quarter valued at $37,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $1.48 dividend. The ex-dividend date is Thursday, January 12th. This represents a $5.92 annualized dividend and a dividend yield of 3.71%. This is a boost from AbbVie’s previous quarterly dividend of $1.41. AbbVie’s payout ratio is currently 75.30%.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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