AbbVie (ABBV) to Release Earnings on Friday

AbbVie (NYSE:ABBVGet Rating) will issue its quarterly earnings data before the market opens on Friday, April 29th. Analysts expect the company to announce earnings of $3.13 per share for the quarter. AbbVie has set its FY22 guidance at $14.00-14.20 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Wednesday, February 2nd. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.29 by $0.02. The firm had revenue of $14.89 billion during the quarter, compared to analyst estimates of $14.96 billion. AbbVie had a return on equity of 164.05% and a net margin of 20.54%. AbbVie’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $2.92 earnings per share. On average, analysts expect AbbVie to post $14 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Shares of NYSE ABBV opened at $158.52 on Friday. The company has a market capitalization of $279.99 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 4.52 and a beta of 0.81. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.70. The business has a 50-day moving average of $155.83 and a two-hundred day moving average of $135.39. AbbVie has a 1 year low of $105.56 and a 1 year high of $175.91.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, April 13th. AbbVie’s dividend payout ratio (DPR) is currently 87.44%.

In related news, EVP Jeffrey Ryan Stewart sold 27,690 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $159.20, for a total value of $4,408,248.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Robert A. Michael sold 43,105 shares of the stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total value of $6,390,316.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,819 shares of company stock valued at $16,155,094. Insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ABBV. OLD Mission Capital LLC purchased a new position in AbbVie in the 3rd quarter valued at about $242,000. Camden National Bank boosted its position in AbbVie by 2.3% in the 4th quarter. Camden National Bank now owns 10,924 shares of the company’s stock valued at $1,171,000 after buying an additional 245 shares during the last quarter. Morgan Stanley boosted its position in AbbVie by 1.1% in the 2nd quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock valued at $2,133,931,000 after buying an additional 214,425 shares during the last quarter. Keudell Morrison Wealth Management lifted its position in shares of AbbVie by 5.0% during the third quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock worth $3,313,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Center for Financial Planning Inc. lifted its position in shares of AbbVie by 4.1% during the third quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock worth $1,295,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 65.62% of the company’s stock.

Several equities analysts recently issued reports on the company. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. BMO Capital Markets lifted their price objective on AbbVie from $153.00 to $154.00 and gave the company an “outperform” rating in a report on Thursday, February 3rd. Citigroup lifted their price objective on AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. Barclays boosted their price target on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Finally, Piper Sandler boosted their price target on AbbVie from $129.00 to $160.00 in a research note on Monday, January 3rd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Buy” and a consensus target price of $156.40.

AbbVie Company Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Earnings History for AbbVie (NYSE:ABBV)

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