What is William Blair’s Estimate for AbbVie FY2024 Earnings?

AbbVie Inc. (NYSE:ABBV) – Equities researchers at William Blair lowered their FY2024 earnings per share estimates for shares of AbbVie in a research report issued on Tuesday, January 21st. William Blair analyst M. Phipps now forecasts that the company will post earnings of $10.06 per share for the year, down from their prior estimate of $10.93. The consensus estimate for AbbVie’s current full-year earnings is $10.06 per share. William Blair also issued estimates for AbbVie’s Q4 2024 earnings at $2.08 EPS.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year.

ABBV has been the subject of several other reports. Barclays upped their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Trading Up 0.7 %

ABBV stock opened at $170.42 on Thursday. AbbVie has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market capitalization of $301.15 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58. The business has a 50 day simple moving average of $175.72 and a two-hundred day simple moving average of $184.73.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.85%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment grew its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the third quarter worth about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.