William Blair Has Positive Outlook of AbbVie FY2027 Earnings

Key Points

• William Blair has raised its FY2027 earnings estimate for AbbVie to $16.14 per share, compared to its previous forecast of $16.11, while the consensus estimate for the current full year is $12.31 per share.
• Despite missing quarterly earnings expectations with $2.97 earnings per share, AbbVie reported revenues of $15.42 billion, exceeding analyst predictions of $14.93 billion.
• AbbVie recently announced a quarterly dividend of $1.64 per share, with an upcoming payout expected to yield around 3.0% annually.

AbbVie Inc. (NYSE:ABBV - Free Report) - William Blair raised their FY2027 earnings estimates for shares of AbbVie in a research note issued on Thursday, September 11th. William Blair analyst M. Phipps now expects that the company will post earnings of $16.14 per share for the year, up from their previous forecast of $16.11. The consensus estimate for AbbVie's current full-year earnings is $12.31 per share.

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

A number of other research analysts have also recently commented on the stock. Morgan Stanley upped their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Guggenheim raised their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Piper Sandler initiated coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Price Performance

Shares of NYSE ABBV opened at $220.09 on Friday. The firm has a market cap of $388.80 billion, a PE ratio of 104.81, a PEG ratio of 1.36 and a beta of 0.53. The firm has a fifty day moving average of $199.67 and a 200 day moving average of $194.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie has a one year low of $163.81 and a one year high of $221.77.

Hedge Funds Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. Marshall & Sullivan Inc. WA purchased a new position in AbbVie in the 2nd quarter valued at $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter worth $26,000. TD Capital Management LLC boosted its position in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Spurstone Advisory Services LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth $28,000. Finally, Abound Financial LLC purchased a new stake in shares of AbbVie during the 1st quarter worth $30,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

AbbVie Dividend Announcement

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

About AbbVie

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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