William Blair Brokers Increase Earnings Estimates for AbbVie Inc. (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) – Research analysts at William Blair raised their Q4 2024 earnings per share estimates for AbbVie in a note issued to investors on Thursday, July 25th. William Blair analyst T. Lugo now forecasts that the company will post earnings per share of $3.04 for the quarter, up from their prior estimate of $3.03. The consensus estimate for AbbVie’s current full-year earnings is $10.79 per share.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share.

ABBV has been the subject of a number of other reports. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Wells Fargo & Company lifted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Friday, July 26th. Morgan Stanley lifted their target price on AbbVie from $191.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Barclays lifted their target price on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.71.

AbbVie Stock Up 2.6 %

ABBV stock opened at $186.70 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business has a 50 day moving average price of $168.50 and a two-hundred day moving average price of $169.93. The company has a market cap of $329.69 billion, a price-to-earnings ratio of 55.40, a P/E/G ratio of 2.35 and a beta of 0.64. AbbVie has a twelve month low of $135.85 and a twelve month high of $187.71.

Hedge Funds Weigh In On AbbVie

Several hedge funds and other institutional investors have recently modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie in the 4th quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter worth $27,000. Able Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter worth $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the 4th quarter worth $37,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.32%. AbbVie’s dividend payout ratio is presently 183.98%.

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.