AbbVie FY2027 EPS Forecast Boosted by Erste Group Bank

Key Points

• Erste Group Bank raised AbbVie’s FY2027 EPS estimate to $16.25 from $16.18, signaling slightly improved long-term earnings expectations. The Street’s current consensus for the full year is $14.32 per share.
• AbbVie recently reported better-than-expected quarterly results, posting EPS of $2.65 versus $2.59 expected and revenue of $15 billion versus $14.72 billion expected. Revenue rose 12.4% year over year.
• The stock was up 1.2% and traded around $210.95, while analysts overall maintain a Moderate Buy rating with a consensus target price of $253.10. AbbVie also declared a quarterly dividend of $1.73 per share, or $6.92 annualized.

AbbVie Inc. (NYSE:ABBV - Free Report) - Equities researchers at Erste Group Bank raised their FY2027 earnings estimates for AbbVie in a report issued on Tuesday, May 12th. Erste Group Bank analyst H. Engel now forecasts that the company will earn $16.25 per share for the year, up from their previous estimate of $16.18. The consensus estimate for AbbVie's current full-year earnings is $14.32 per share.

ABBV has been the topic of several other reports. BMO Capital Markets reiterated an "outperform" rating on shares of AbbVie in a research report on Monday, March 9th. Guggenheim reiterated a "buy" rating and set a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. DZ Bank raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Bank of America raised AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 target price for the company in a research report on Thursday, April 30th. Finally, Citigroup cut their target price on AbbVie from $235.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.10.

AbbVie Trading Up 1.2%

AbbVie stock opened at $210.95 on Friday. The stock has a 50-day moving average price of $210.78 and a two-hundred day moving average price of $220.17. AbbVie has a 12 month low of $176.57 and a 12 month high of $244.81. The company has a market capitalization of $372.71 billion, a PE ratio of 103.92, a P/E/G ratio of 0.72 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.3%. AbbVie's dividend payout ratio is 340.89%.

Insiders Place Their Bets

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the transaction, the executive vice president directly owned 38,137 shares of the company's stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On AbbVie

Large investors have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust increased its stake in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock valued at $1,648,000 after acquiring an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV grew its holdings in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after purchasing an additional 45 shares during the period. Imprint Wealth LLC grew its holdings in AbbVie by 56.3% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after purchasing an additional 45 shares during the period. Weil Company Inc. increased its stake in AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company's stock valued at $469,000 after purchasing an additional 46 shares in the last quarter. Finally, Hardin Capital Partners LLC raised its holdings in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock valued at $759,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.