AbbVie Inc (NYSE:ABBV) – Analysts at Leerink Swann raised their FY2017 earnings per share (EPS) estimates for AbbVie in a research report issued to clients and investors on Thursday. Leerink Swann analyst G. Porges now forecasts that the company will post earnings per share of $5.65 for the year, up from their previous forecast of $5.59. Leerink Swann has a “Buy” rating and a $106.00 price objective on the stock. Leerink Swann also issued estimates for AbbVie’s Q4 2017 earnings at $1.51 EPS, Q2 2018 earnings at $1.73 EPS, Q3 2018 earnings at $1.78 EPS, Q4 2018 earnings at $1.91 EPS and FY2021 earnings at $9.71 EPS.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Thursday. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Thursday, January 11th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective for the company. in a research note on Monday, January 8th. Jefferies Group raised their price objective on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and a consensus price target of $101.38.
AbbVie (NYSE:ABBV) opened at $104.64 on Friday. AbbVie has a 12 month low of $59.27 and a 12 month high of $104.87. The stock has a market capitalization of $166,810.00, a PE ratio of 25.40, a PEG ratio of 1.23 and a beta of 1.53. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC acquired a new stake in AbbVie in the third quarter valued at approximately $544,418,000. Capital International Investors grew its holdings in AbbVie by 137.7% in the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after purchasing an additional 4,550,954 shares during the period. Vanguard Group Inc. grew its holdings in AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. Janus Henderson Group PLC grew its holdings in AbbVie by 1,949.7% in the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after purchasing an additional 3,646,510 shares during the period. Finally, Orbis Allan Gray Ltd grew its holdings in AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares during the period. Institutional investors own 69.19% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 68.93%.
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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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