AbbVie Inc (NYSE:ABBV) Expected to Post Quarterly Sales of $8.76 Billion

Brokerages expect that AbbVie Inc (NYSE:ABBV) will report sales of $8.76 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for AbbVie’s earnings, with the lowest sales estimate coming in at $8.72 billion and the highest estimate coming in at $8.80 billion. AbbVie reported sales of $8.31 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The company is expected to report its next quarterly earnings results on Friday, January 24th.

On average, analysts expect that AbbVie will report full-year sales of $33.32 billion for the current fiscal year, with estimates ranging from $33.29 billion to $33.36 billion. For the next year, analysts anticipate that the company will post sales of $36.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover AbbVie.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The firm had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS.

Several brokerages recently issued reports on ABBV. UBS Group upped their price target on shares of AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Cowen set a $90.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Citigroup upped their target price on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, TheStreet cut shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. AbbVie currently has a consensus rating of “Hold” and a consensus price target of $86.97.

Shares of NYSE:ABBV traded up $0.26 during midday trading on Tuesday, reaching $86.98. The company’s stock had a trading volume of 6,044,570 shares, compared to its average volume of 7,296,866. The business’s fifty day simple moving average is $83.51 and its 200-day simple moving average is $74.65. AbbVie has a fifty-two week low of $62.66 and a fifty-two week high of $92.99. The company has a market capitalization of $128.24 billion, a P/E ratio of 11.00, a P/E/G ratio of 2.16 and a beta of 0.99.

The company also recently disclosed a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.18 dividend. This represents a yield of 5.93%. This is a positive change from AbbVie’s previous — dividend of $1.07. The ex-dividend date of this dividend is Tuesday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Laura J. Schumacher bought 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the acquisition, the insider now directly owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Resources Management Corp CT ADV bought a new position in AbbVie during the 3rd quarter worth approximately $6,857,000. Princeton Global Asset Management LLC grew its holdings in AbbVie by 13.6% during the third quarter. Princeton Global Asset Management LLC now owns 9,010 shares of the company’s stock valued at $660,000 after purchasing an additional 1,079 shares during the period. Institutional & Family Asset Management LLC increased its stake in AbbVie by 33.2% in the third quarter. Institutional & Family Asset Management LLC now owns 3,646 shares of the company’s stock valued at $276,000 after purchasing an additional 909 shares in the last quarter. Man Group plc increased its stake in AbbVie by 16.7% in the third quarter. Man Group plc now owns 3,039,838 shares of the company’s stock valued at $230,177,000 after purchasing an additional 434,570 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in AbbVie in the third quarter valued at approximately $24,651,000. 70.48% of the stock is currently owned by institutional investors.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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