AbbVie (NYSE:ABBV) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

AbbVie (NYSE:ABBV) released its quarterly earnings results on Friday. The company reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.14, MarketWatch Earnings reports. The company had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 earnings per share. AbbVie updated its FY 2020
Pre-Market guidance to 10.35-10.45 EPS and its FY20 guidance to $10.35-10.45 EPS.

Shares of ABBV opened at $94.91 on Friday. The firm has a market capitalization of $141.83 billion, a PE ratio of 16.80, a PEG ratio of 1.65 and a beta of 0.86. The company’s 50-day moving average is $97.25 and its 200-day moving average is $88.40. AbbVie has a fifty-two week low of $62.55 and a fifty-two week high of $101.28.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s payout ratio is presently 52.80%.

Several research analysts recently commented on the stock. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b-” rating in a report on Friday, June 12th. Morgan Stanley restated an “overweight” rating and set a $95.00 target price on shares of AbbVie in a report on Monday, May 11th. Mizuho increased their target price on shares of AbbVie from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, June 29th. ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Finally, Evercore ISI started coverage on shares of AbbVie in a report on Wednesday, June 10th. They set a “buy” rating and a $111.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $106.80.

In other news, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total value of $1,652,825.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the completion of the transaction, the senior vice president now directly owns 52,760 shares in the company, valued at $4,748,400. The disclosure for this sale can be found here. Insiders sold 95,794 shares of company stock worth $9,057,485 over the last three months. Insiders own 0.09% of the company’s stock.

About AbbVie

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.

See Also: Cash Asset Ratio

Earnings History for AbbVie (NYSE:ABBV)

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