AbbVie (ABBV) to Release Quarterly Earnings on Friday

AbbVie (NYSE:ABBV) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $2.20 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm earned $3.60 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, analysts expect AbbVie to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AbbVie Stock Up 1.0 %

ABBV opened at $169.54 on Wednesday. AbbVie has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a market cap of $300.20 billion, a P/E ratio of 62.10, a P/E/G ratio of 2.14 and a beta of 0.58. The stock’s 50 day moving average price is $175.26 and its 200 day moving average price is $160.57. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.51, for a total value of $2,441,295.03. Following the sale, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

About AbbVie

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.