Leerink Partnrs Forecasts AbbVie’s Q4 Earnings (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) – Stock analysts at Leerink Partnrs boosted their Q4 2024 earnings per share (EPS) estimates for shares of AbbVie in a note issued to investors on Wednesday, October 30th. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings per share of $2.98 for the quarter, up from their prior estimate of $2.96. The consensus estimate for AbbVie’s current full-year earnings is $10.90 per share. Leerink Partnrs also issued estimates for AbbVie’s FY2026 earnings at $13.67 EPS, FY2027 earnings at $15.30 EPS and FY2028 earnings at $16.69 EPS.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the company posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Citigroup increased their price target on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $201.00.

AbbVie Trading Down 0.2 %

Shares of AbbVie stock opened at $203.55 on Friday. The stock has a market capitalization of $359.54 billion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. AbbVie has a 52 week low of $135.85 and a 52 week high of $207.32. The stock has a 50 day moving average price of $194.12 and a two-hundred day moving average price of $179.38. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at about $27,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter worth approximately $39,000. Finally, Burkett Financial Services LLC grew its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after acquiring an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.22%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

About AbbVie

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.