Research Analysts Set Expectations for AbbVie Inc.’s Q1 2024 Earnings (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBVFree Report) – Research analysts at Leerink Partnrs issued their Q1 2024 EPS estimates for AbbVie in a report issued on Monday, February 5th. Leerink Partnrs analyst D. Risinger forecasts that the company will post earnings of $2.32 per share for the quarter. The consensus estimate for AbbVie’s current full-year earnings is $11.15 per share. Leerink Partnrs also issued estimates for AbbVie’s Q2 2024 earnings at $2.86 EPS, Q3 2024 earnings at $2.96 EPS, Q4 2024 earnings at $3.04 EPS, FY2024 earnings at $11.17 EPS, FY2025 earnings at $11.91 EPS and FY2026 earnings at $13.09 EPS.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of AbbVie in a research note on Thursday, November 9th. They set a “hold” rating and a $150.00 price objective for the company. Barclays upped their price objective on shares of AbbVie from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets increased their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $171.47.

View Our Latest Stock Report on ABBV

AbbVie Stock Performance

AbbVie stock opened at $174.79 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $314.62 billion, a PE ratio of 64.03, a P/E/G ratio of 2.20 and a beta of 0.57. The firm has a fifty day simple moving average of $159.25 and a two-hundred day simple moving average of $150.96. AbbVie has a twelve month low of $130.96 and a twelve month high of $175.91.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 154.73%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Miller Wealth Advisors LLC raised its position in shares of AbbVie by 140.0% during the 2nd quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. VitalStone Financial LLC raised its position in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the period. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $36,000. PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie during the 2nd quarter valued at $38,000. Finally, True Wealth Design LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $39,000. 67.86% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 2,912 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $8,649,312.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

AbbVie Company Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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