William Blair Issues Positive Outlook for AbbVie Earnings

AbbVie Inc. (NYSE:ABBV) – Analysts at William Blair boosted their Q4 2024 earnings estimates for AbbVie in a research report issued to clients and investors on Monday, November 11th. William Blair analyst M. Phipps now expects that the company will earn $2.96 per share for the quarter, up from their previous forecast of $2.95. William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.95 per share. William Blair also issued estimates for AbbVie’s FY2026 earnings at $13.16 EPS.

A number of other research firms have also issued reports on ABBV. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets lowered their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $203.83.

AbbVie Trading Down 0.4 %

NYSE:ABBV opened at $170.46 on Thursday. The company’s 50 day moving average is $193.08 and its 200-day moving average is $180.84. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie has a 12 month low of $136.30 and a 12 month high of $207.32. The firm has a market cap of $301.23 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.08 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently added to or reduced their stakes in the stock. Saturna Capital Corp grew its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. First Hawaiian Bank boosted its position in AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares in the last quarter. PGGM Investments boosted its position in AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares in the last quarter. Schrum Private Wealth Management LLC grew its stake in AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after buying an additional 6,065 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of AbbVie by 8.3% during the third quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock worth $15,377,000 after buying an additional 5,993 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

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.