AbbVie Inc (NYSE:ABBV) – Stock analysts at William Blair issued their FY2020 earnings per share estimates for shares of AbbVie in a research note issued on Monday, October 15th, Zacks Investment Research reports. William Blair analyst Y. Xu forecasts that the company will earn $9.14 per share for the year.
A number of other equities analysts have also recently weighed in on the stock. 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 report on Tuesday. 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 report on Monday, November 5th. Barclays reaffirmed a “hold” rating and set a $90.00 price objective on shares of AbbVie in a research report on Sunday, November 4th. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Friday, November 2nd. Finally, Wolfe Research assumed coverage on shares of AbbVie in a research report on Tuesday, October 23rd. They issued an “underperform” rating for the company. Five research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and a consensus price target of $103.68.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth $112,000. Mainstay Capital Management LLC ADV boosted its holdings in shares of AbbVie by 6,123.5% in the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock valued at $143,000 after acquiring an additional 12,247 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in AbbVie during the first quarter worth about $146,000. First Mercantile Trust Co. purchased a new stake in AbbVie during the second quarter worth about $150,000. Finally, Centaurus Financial Inc. purchased a new stake in AbbVie during the first quarter worth about $153,000. Institutional investors and hedge funds own 69.43% of the company’s stock.
In other news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.82%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 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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