AbbVie Inc (ABBV) Expected to Post Earnings of $2.05 Per Share

Wall Street brokerages forecast that AbbVie Inc (NYSE:ABBV) will report earnings per share of $2.05 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for AbbVie’s earnings. The highest EPS estimate is $2.07 and the lowest is $2.02. AbbVie posted earnings per share of $1.87 in the same quarter last year, which would indicate a positive year over year growth rate of 9.6%. The company is scheduled to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that AbbVie will report full-year earnings of $8.68 per share for the current financial year, with EPS estimates ranging from $8.60 to $8.75. For the next financial year, analysts forecast that the business will post earnings of $9.26 per share, with EPS estimates ranging from $8.96 to $9.40. Zacks’ EPS calculations are an average based on a survey of research firms that follow AbbVie.

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

Several analysts have recently commented on the company. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. UBS Group reaffirmed a “neutral” rating and set a $91.00 price target (down from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Standpoint Research assumed coverage on AbbVie in a research report on Wednesday, December 26th. They set a “buy” rating for the company. Barclays reaffirmed a “hold” rating and set a $86.00 price target on shares of AbbVie in a research report on Thursday, February 14th. Finally, ValuEngine downgraded AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. AbbVie has a consensus rating of “Hold” and a consensus target price of $94.48.

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the transaction, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at $7,374,447.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the transaction, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,272 shares of company stock valued at $3,286,290. 0.07% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC bought a new position in shares of AbbVie in the fourth quarter worth $27,000. Penserra Capital Management LLC bought a new position in shares of AbbVie in the fourth quarter worth $32,000. Larson Financial Group LLC bought a new position in shares of AbbVie in the fourth quarter worth $37,000. Horrell Capital Management Inc. bought a new position in shares of AbbVie in the fourth quarter worth $41,000. Finally, Capital Financial Planning LLC bought a new position in shares of AbbVie in the fourth quarter worth $41,000. 70.64% of the stock is owned by institutional investors and hedge funds.

Shares of AbbVie stock traded up $0.63 on Monday, hitting $80.59. The company had a trading volume of 7,105,861 shares, compared to its average volume of 6,051,091. The company has a market cap of $117.95 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.17. AbbVie has a 1 year low of $75.77 and a 1 year high of $107.25.

AbbVie declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 13th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 54.11%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

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