AbbVie Inc Expected to Earn FY2022 Earnings of $12.47 Per Share (ABBV)
AbbVie Inc (NYSE:ABBV) – Analysts at Jefferies Group upped their FY2022 earnings per share estimates for shares of AbbVie in a note issued to investors on Tuesday. Jefferies Group analyst J. Holford now anticipates that the company will post earnings per share of $12.47 for the year, up from their prior estimate of $11.94. Jefferies Group currently has a “Buy” rating and a $120.00 price objective on the stock.
A number of other analysts have also weighed in on ABBV. Barclays reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Thursday, January 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Thursday. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $94.00 price target (up from $74.00) on shares of AbbVie in a research note on Sunday, October 1st. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $101.38.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is presently 68.93%.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 over the last quarter. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $106,000. Hudock Capital Group LLC raised its holdings in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC raised its holdings in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new stake in shares of AbbVie during the third quarter valued at approximately $113,000. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $115,000. Institutional investors and hedge funds own 69.19% of the company’s stock.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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