FY2018 EPS Estimates for AbbVie Inc (ABBV) Boosted by Piper Jaffray Companies

AbbVie Inc (NYSE:ABBV) – Investment analysts at Piper Jaffray Companies lifted their FY2018 earnings per share estimates for AbbVie in a research note issued on Wednesday, October 17th, according to Zacks Investment Research. Piper Jaffray Companies analyst C. Raymond now expects that the company will earn $7.91 per share for the year, up from their prior estimate of $7.90. Piper Jaffray Companies has a “Hold” rating and a $100.00 price objective on the stock. Piper Jaffray Companies also issued estimates for AbbVie’s Q4 2018 earnings at $1.99 EPS.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the business earned $1.41 EPS. The company’s revenue was up 17.7% compared to the same quarter last year.

Several other analysts have also weighed in on ABBV. BMO Capital Markets lowered their price objective on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a research note on Monday, November 5th. Jefferies Financial Group set a $100.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research note on Sunday, July 15th. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, Argus lowered their price objective on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. AbbVie has an average rating of “Hold” and an average target price of $103.68.

Shares of NYSE:ABBV traded up $1.06 during mid-day trading on Thursday, hitting $88.79. The company had a trading volume of 9,169,326 shares, compared to its average volume of 7,708,477. The firm has a market capitalization of $131.68 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.82 and a beta of 1.62. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. AbbVie has a one year low of $77.50 and a one year high of $125.86.

Several large investors have recently modified their holdings of ABBV. Financial Gravity Wealth Inc. bought a new stake in AbbVie in the 1st quarter valued at about $396,000. Eaton Vance Management raised its stake in AbbVie by 1.3% in the 1st quarter. Eaton Vance Management now owns 3,446,168 shares of the company’s stock valued at $326,180,000 after acquiring an additional 45,322 shares during the period. Schwab Charles Investment Management Inc. raised its stake in AbbVie by 3.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock valued at $576,231,000 after acquiring an additional 220,125 shares during the period. Centaurus Financial Inc. bought a new stake in AbbVie in the 1st quarter valued at about $153,000. Finally, Spectrum Management Group Inc. increased its position in shares of AbbVie by 2.3% during the first quarter. Spectrum Management Group Inc. now owns 30,552 shares of the company’s stock valued at $2,892,000 after buying an additional 700 shares during the period. 69.43% of the stock is currently owned by institutional investors.

In related news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.82%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. AbbVie’s payout ratio is currently 68.57%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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