AbbVie (ABBV) Scheduled to Post Earnings on Friday

AbbVie (NYSE:ABBV) will issue its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $2.20 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. On average, analysts expect AbbVie to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AbbVie Stock Up 0.2 %

Shares of NYSE ABBV opened at $164.66 on Friday. AbbVie has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a market cap of $291.56 billion, a PE ratio of 60.32, a P/E/G ratio of 2.09 and a beta of 0.58. The company’s fifty day simple moving average is $175.59 and its 200 day simple moving average is $159.97. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABBV shares. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over 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 Trading of AbbVie

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after acquiring an additional 4,785,277 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares during the last quarter. Norges Bank purchased a new position in AbbVie during the 4th quarter valued at about $3,033,348,000. Legal & General Group Plc raised its position in AbbVie by 25.8% during the 4th quarter. Legal & General Group Plc now owns 15,213,521 shares of the company’s stock valued at $2,357,642,000 after purchasing an additional 3,118,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock worth $1,443,588,000 after buying an additional 176,026 shares during the period. 70.23% of the stock is currently 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.