Q3 2018 EPS Estimates for AbbVie Inc Reduced by William Blair (ABBV)

AbbVie Inc (NYSE:ABBV) – Investment analysts at William Blair reduced their Q3 2018 EPS estimates for shares of AbbVie in a note issued to investors on Monday, October 15th. William Blair analyst Y. Xu now expects that the company will post earnings of $1.93 per share for the quarter, down from their previous estimate of $1.94. William Blair also issued estimates for AbbVie’s Q4 2018 earnings at $2.00 EPS, FY2018 earnings at $7.81 EPS and FY2019 earnings at $8.10 EPS.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS.

Several other research firms have also commented on ABBV. Bank of America raised their price objective on AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Wednesday, August 22nd. Credit Suisse Group raised AbbVie to a “hold” rating and set a $89.00 price objective on the stock in a research report on Friday, July 13th. Jefferies Financial Group set a $100.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Sunday, July 15th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. AbbVie has a consensus rating of “Hold” and a consensus price target of $106.98.

NYSE:ABBV opened at $89.90 on Wednesday. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie has a 12 month low of $85.24 and a 12 month high of $125.86. The stock has a market capitalization of $143.22 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.91 and a beta of 1.54.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new position in AbbVie in the third quarter worth about $112,000. Mainstay Capital Management LLC ADV grew its stake in AbbVie by 6,123.5% in the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after purchasing an additional 12,247 shares in the last quarter. Fairfield Bush & CO. acquired a new position in AbbVie in the first quarter worth about $146,000. First Mercantile Trust Co. acquired a new position in AbbVie in the second quarter worth about $150,000. Finally, Centaurus Financial Inc. acquired a new position in AbbVie in the first quarter worth about $153,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is 68.57%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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