William Blair Analysts Boost Earnings Estimates for AbbVie Inc. (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV - Free Report) - Equities research analysts at William Blair increased their FY2024 earnings per share estimates for AbbVie in a research note issued to investors on Monday, April 29th. William Blair analyst T. Lugo now forecasts that the company will earn $11.31 per share for the year, up from their prior estimate of $11.06. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for AbbVie's current full-year earnings is $11.27 per share. William Blair also issued estimates for AbbVie's FY2025 earnings at $12.04 EPS.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm's revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS.

A number of other equities research analysts have also issued reports on ABBV. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, February 6th. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. Finally, Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.31.

AbbVie Price Performance

Shares of ABBV traded down $0.92 during trading hours on Wednesday, hitting $161.72. 5,174,200 shares of the stock were exchanged, compared to its average volume of 5,657,122. The stock's 50-day moving average price is $174.01 and its two-hundred day moving average price is $161.10. AbbVie has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market cap of $286.35 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.83%. AbbVie's dividend payout ratio is currently 183.98%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company's stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently modified their holdings of the company. FAS Wealth Partners Inc. lifted its stake in AbbVie by 2.6% in the third quarter. FAS Wealth Partners Inc. now owns 21,828 shares of the company's stock valued at $3,254,000 after buying an additional 555 shares during the last quarter. Mcdaniel Terry & Co. increased its holdings in AbbVie by 21.6% in the third quarter. Mcdaniel Terry & Co. now owns 17,983 shares of the company's stock valued at $2,680,000 after buying an additional 3,197 shares in the last quarter. Innova Wealth Partners raised its holdings in AbbVie by 11.6% during the third quarter. Innova Wealth Partners now owns 4,543 shares of the company's stock worth $677,000 after purchasing an additional 471 shares during the last quarter. Scissortail Wealth Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $203,000. Finally, Moreno Evelyn V increased its stake in shares of AbbVie by 47.1% during the 3rd quarter. Moreno Evelyn V now owns 4,686 shares of the company's stock worth $698,000 after purchasing an additional 1,500 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.