AbbVie (NYSE:ABBV – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.940-2.980 for the period, compared to the consensus estimate of 2.950. The company issued revenue guidance of $14.8 billion-$14.8 billion, compared to the consensus revenue estimate of $14.6 billion.
AbbVie Price Performance
NYSE:ABBV traded down $0.32 during trading hours on Friday, hitting $203.55. The stock had a trading volume of 4,493,880 shares, compared to its average volume of 5,329,237. The company has a 50 day simple moving average of $194.12 and a two-hundred day simple moving average of $179.38. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie has a one year low of $135.85 and a one year high of $207.32. The firm has a market capitalization of $359.54 billion, a price-to-earnings ratio of 70.68, a P/E/G ratio of 2.76 and a beta of 0.63.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 earnings per share. Research analysts forecast that AbbVie will post 10.9 earnings per share for the current fiscal year.
AbbVie Increases Dividend
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup increased their price objective on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.00.
View Our Latest Stock Report on ABBV
Insider Transactions at AbbVie
In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than AbbVie
- How is Compound Interest Calculated?
- Battle of the Retailers: Who Comes Out on Top?
- Trading Stocks: RSI and Why it’s Useful
- HCA Healthcare: Temporary Setbacks, Long-Term Strength
- 3 Small Caps With Big Return Potential
- MarketBeat Week in Review – 10/28 – 11/1
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.