Wall Street analysts expect that AbbVie Inc. (NYSE:ABBV) will post sales of $6.92 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for AbbVie’s earnings, with estimates ranging from $6.87 billion to $7.06 billion. AbbVie posted sales of $6.45 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The business is expected to announce its next earnings results before the market opens on Friday, July 28th.
According to Zacks, analysts expect that AbbVie will report full year sales of $6.92 billion for the current financial year, with estimates ranging from $27.49 billion to $28.12 billion. For the next financial year, analysts forecast that the company will post sales of $30.46 billion per share, with estimates ranging from $29.86 billion to $32.21 billion. Zacks’ sales averages are an average based on a survey of research firms that follow AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The firm had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 EPS.
A number of brokerages have commented on ABBV. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Thursday. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $74.86 target price for the company in a research note on Thursday, July 6th. Deutsche Bank AG lifted their target price on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Finally, Leerink Swann set a $71.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, April 20th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus target price of $73.42.
In other news, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now directly owns 209,043 shares in the company, valued at approximately $13,660,960.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 278,135 shares of company stock worth $18,841,085. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors have recently bought and sold shares of ABBV. First Command Financial Services Inc. raised its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the last quarter. Acropolis Investment Management LLC bought a new position in shares of AbbVie during the second quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of AbbVie during the first quarter worth approximately $108,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $137,000. Finally, Atwood & Palmer Inc. raised its position in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.
AbbVie (ABBV) traded up 0.37% during mid-day trading on Friday, reaching $72.90. The company’s stock had a trading volume of 1,371,215 shares. The stock’s 50-day moving average is $68.61 and its 200-day moving average is $64.71. The firm has a market capitalization of $116.02 billion, a PE ratio of 18.90 and a beta of 1.51. AbbVie has a 12 month low of $55.06 and a 12 month high of $73.67. AbbVie also saw some unusual options trading on Tuesday. Stock investors bought 22,361 call options on the company. This represents an increase of 422% compared to the typical volume of 4,284 call options.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.52%. The ex-dividend date is Wednesday, July 12th. AbbVie’s payout ratio is 66.32%.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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