AbbVie (NYSE:ABBV – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.71-10.97 for the period, compared to the consensus earnings per share estimate of $10.84. AbbVie also updated its Q3 guidance to $2.86-2.96 EPS.
Analyst Ratings Changes
Several analysts have weighed in on the company. Piper Sandler Companies reaffirmed an overweight rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Wells Fargo & Company lifted their price objective on AbbVie from $200.00 to $205.00 and gave the company an overweight rating in a research report on Friday, July 26th. Piper Sandler reaffirmed an overweight rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Barclays lifted their price objective on AbbVie from $187.00 to $200.00 and gave the company an overweight rating in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $200.00 price objective on shares of AbbVie in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $188.71.
Read Our Latest Stock Analysis on ABBV
AbbVie Stock Up 2.3 %
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 EPS. On average, sell-side analysts forecast that AbbVie will post 10.87 EPS for the current year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.27%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.
Insider Activity at AbbVie
In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.
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.
Featured Articles
- Five stocks we like better than AbbVie
- How to buy stock: A step-by-step guide for beginnersÂ
- First Solar Stock: The Dawn of a New Rally in Share Prices
- Insider Buying Explained: What Investors Need to Know
- Mastercard Stock’s Q2 Financial Results Outshine Competitors
- Which Wall Street Analysts are the Most Accurate?
- Tobacco Giant’s Shares Fall on EPS Miss, Lackluster Pouch Gains
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.