AbbVie Inc (ABBV) Expected to Announce Quarterly Sales of $7.72 Billion

Wall Street brokerages expect AbbVie Inc (NYSE:ABBV) to announce sales of $7.72 billion for the current quarter, Zacks reports. Three analysts have provided estimates for AbbVie’s earnings, with the lowest sales estimate coming in at $7.57 billion and the highest estimate coming in at $7.85 billion. AbbVie reported sales of $7.93 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, April 25th.

On average, analysts expect that AbbVie will report full-year sales of $32.72 billion for the current financial year, with estimates ranging from $32.51 billion to $33.01 billion. For the next fiscal year, analysts forecast that the business will report sales of $34.51 billion, with estimates ranging from $34.12 billion to $34.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow AbbVie.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year.

A number of analysts have weighed in on the company. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Barclays reaffirmed a “hold” rating and issued a $86.00 price target on shares of AbbVie in a research report on Thursday, February 14th. Credit Suisse Group set a $79.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, ValuEngine cut AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $94.48.

NYSE ABBV traded up $0.95 on Friday, reaching $78.52. The stock had a trading volume of 2,405,511 shares, compared to its average volume of 5,041,205. AbbVie has a 1 year low of $75.77 and a 1 year high of $107.25. The company has a market capitalization of $114.42 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.45%. AbbVie’s dividend payout ratio is currently 54.11%.

In related news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the insider now owns 139,838 shares of the company’s stock, valued at approximately $11,187,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the transaction, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. Insiders sold 41,272 shares of company stock valued at $3,286,290 in the last ninety days. Insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABBV. Pure Financial Advisors Inc. grew its stake in shares of AbbVie by 1.0% in the 4th quarter. Pure Financial Advisors Inc. now owns 11,606 shares of the company’s stock valued at $1,070,000 after purchasing an additional 116 shares during the period. Planning Directions Inc. grew its stake in shares of AbbVie by 3.3% in the 4th quarter. Planning Directions Inc. now owns 3,890 shares of the company’s stock valued at $359,000 after purchasing an additional 126 shares during the period. Nwam LLC grew its position in AbbVie by 1.3% during the 1st quarter. Nwam LLC now owns 9,801 shares of the company’s stock worth $790,000 after acquiring an additional 127 shares during the last quarter. Van Leeuwen & Company LLC grew its position in AbbVie by 4.1% during the 4th quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after acquiring an additional 130 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its position in AbbVie by 1.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 12,662 shares of the company’s stock worth $1,168,000 after acquiring an additional 131 shares during the last quarter. 70.66% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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