AbbVie Inc to Post FY2022 Earnings of $12.47 Per Share, Jefferies Group Forecasts (ABBV)

AbbVie Inc (NYSE:ABBV) – Analysts at Jefferies Group increased their FY2022 earnings per share (EPS) estimates for AbbVie in a research note issued on Tuesday. Jefferies Group analyst J. Holford now forecasts that the company will earn $12.47 per share for the year, up from their previous forecast of $11.94. Jefferies Group currently has a “Buy” rating and a $120.00 target price on the stock.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Thursday. Leerink Swann set a $106.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research note on Tuesday, December 5th. UBS Group lowered shares of AbbVie from a “buy” rating to a “neutral” rating and raised their price target for the company from $79.00 to $92.00 in a research report on Monday, September 25th. Argus raised their price target on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Finally, Barclays restated a “hold” rating and set a $68.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and a consensus price target of $101.38.

AbbVie (NYSE:ABBV) traded down $0.55 during trading hours on Wednesday, hitting $103.81. 6,371,180 shares of the stock were exchanged, compared to its average volume of 4,510,000. The firm has a market capitalization of $165,480.00, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.23 and a beta of 1.53. AbbVie has a 1 year low of $59.27 and a 1 year high of $104.85. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acropolis Investment Management LLC purchased a new position in shares of AbbVie in the second quarter worth about $106,000. Hudock Capital Group LLC lifted its stake in shares of AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares in the last quarter. Ffcm LLC lifted its stake in shares of AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in shares of AbbVie in the third quarter worth about $113,000. Finally, BDO Wealth Advisors LLC purchased a new position in shares of AbbVie in the second quarter worth about $115,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

In other news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 494,676 shares of company stock worth $47,237,938. Company insiders own 0.23% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.74%. AbbVie’s dividend payout ratio (DPR) is 68.93%.

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AbbVie Company Profile

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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