AbbVie Inc. (NYSE:ABBV) to Post Q1 2024 Earnings of $2.21 Per Share, William Blair Forecasts

AbbVie Inc. (NYSE:ABBV) – Research analysts at William Blair issued their Q1 2024 EPS estimates for AbbVie in a research note issued to investors on Wednesday, April 17th. William Blair analyst T. Lugo expects that the company will post earnings of $2.21 per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $11.18 per share. William Blair also issued estimates for AbbVie’s FY2024 earnings at $11.06 EPS.

Several other brokerages have also issued reports on ABBV. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Barclays boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Trading Up 1.1 %

Shares of ABBV stock opened at $166.42 on Friday. AbbVie has a 1 year low of $130.96 and a 1 year high of $182.89. The firm’s fifty day simple moving average is $175.44 and its 200 day simple moving average is $160.10. The firm has a market capitalization of $294.67 billion, a P/E ratio of 60.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. AbbVie’s revenue was down 5.4% compared to the same quarter last year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.73%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Hedge funds have recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the 4th quarter worth approximately $26,000. Able Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth approximately $33,000. Hibernia Wealth Partners LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $36,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter worth approximately $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $37,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.