Analysts Expect AbbVie Inc. (ABBV) Will Post Quarterly Sales of $7.56 Billion
Brokerages expect that AbbVie Inc. (NYSE:ABBV) will announce sales of $7.56 billion for the current quarter, according to Zacks. Five analysts have made estimates for AbbVie’s earnings. The lowest sales estimate is $7.51 billion and the highest is $7.63 billion. AbbVie reported sales of $6.80 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.2%. The company is scheduled to report its next quarterly earnings report on Friday, January 26th.
According to Zacks, analysts expect that AbbVie will report full-year sales of $7.56 billion for the current financial year, with estimates ranging from $27.82 billion to $28.11 billion. For the next year, analysts forecast that the business will report sales of $31.35 billion per share, with estimates ranging from $30.77 billion to $32.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis.
A number of research firms have recently commented on ABBV. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Finally, Leerink Swann lowered their price objective on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $93.68.
AbbVie (NYSE:ABBV) opened at $92.96 on Tuesday. AbbVie has a twelve month low of $55.87 and a twelve month high of $98.26. The company has a debt-to-equity ratio of 5.63, a current ratio of 1.38 and a quick ratio of 1.25. The company has a market capitalization of $148,190.00, a price-to-earnings ratio of 17.38, a PEG ratio of 1.28 and a beta of 1.52.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.06%. AbbVie’s dividend payout ratio (DPR) is presently 61.84%.
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In other news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold 33,299 shares of company stock worth $2,952,243 in the last 90 days. Company insiders own 0.23% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Formidable Asset Management LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after buying an additional 10 shares during the last quarter. WealthTrust Axiom LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after buying an additional 15 shares during the last quarter. Abner Herrman & Brock LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after buying an additional 18 shares during the last quarter. Bollard Group LLC grew its stake in shares of AbbVie by 0.5% during the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock valued at $273,000 after buying an additional 19 shares during the last quarter. Finally, St. Louis Trust Co grew its stake in shares of AbbVie by 0.7% during the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after buying an additional 23 shares during the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.
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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