FY2027 EPS Estimates for AbbVie Boosted by Leerink Partnrs

Key Points

• Leerink Partners has raised their FY2027 earnings per share estimate for AbbVie to $16.33, up from $16.01, with anticipated EPS of $18.38 for FY2028 and $19.77 for FY2029.
• Despite the increase in earnings estimates, AbbVie reported lower-than-expected Q2 results, with $2.97 EPS against the projected $3.24.
• AbbVie announced a quarterly dividend of $1.64 per share, yielding 3.0%, with a significant payout ratio of 312.38%.

AbbVie Inc. (NYSE:ABBV - Free Report) - Equities researchers at Leerink Partnrs lifted their FY2027 earnings per share (EPS) estimates for shares of AbbVie in a research report issued to clients and investors on Wednesday, September 24th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings per share of $16.33 for the year, up from their prior forecast of $16.01. The consensus estimate for AbbVie's current full-year earnings is $12.31 per share. Leerink Partnrs also issued estimates for AbbVie's FY2028 earnings at $18.38 EPS and FY2029 earnings at $19.77 EPS.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 earnings per share.

Several other analysts also recently weighed in on ABBV. Cantor Fitzgerald increased their target price on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research note on Thursday, August 7th. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $170.00 to $270.00 in a research note on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $223.45.

AbbVie Stock Down 1.1%

AbbVie stock opened at $220.11 on Thursday. The firm has a market cap of $388.84 billion, a price-to-earnings ratio of 104.81, a P/E/G ratio of 1.33 and a beta of 0.53. The firm has a fifty day moving average price of $205.07 and a two-hundred day moving average price of $195.21. AbbVie has a fifty-two week low of $163.81 and a fifty-two week high of $225.16. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie's payout ratio is presently 312.38%.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of AbbVie

Several hedge funds have recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth $26,000. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Spurstone Advisory Services LLC acquired a new position in AbbVie in the second quarter valued at about $28,000. Finally, Abound Financial LLC bought a new stake in AbbVie during the first quarter worth about $30,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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