AbbVie (ABBV) Projected to Post Quarterly Earnings on Friday

AbbVie (NYSE:ABBV) is expected to issue its quarterly earnings data before the market opens on Friday, January 31st. Analysts expect the company to announce earnings of $2.98 per share and revenue of $14,812,900.00 billion for the quarter. AbbVie has set its FY24 guidance at $10.90-10.94 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect AbbVie to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AbbVie Stock Performance

AbbVie stock opened at $170.42 on Friday. The company’s 50-day moving average price is $175.72 and its 200-day moving average price is $184.73. AbbVie has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $301.15 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.85%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley dropped their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.50.

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.