AbbVie Inc. (NYSE:ABBV) Expected to Announce Quarterly Sales of $12.95 Billion


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Brokerages expect AbbVie Inc. (NYSE:ABBV) to report $12.95 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for AbbVie’s earnings. The lowest sales estimate is $12.68 billion and the highest is $13.48 billion. AbbVie reported sales of $8.62 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 50.2%. The business is expected to announce its next earnings report before the market opens on Friday, April 30th.

On average, analysts expect that AbbVie will report full year sales of $55.83 billion for the current fiscal year, with estimates ranging from $55.63 billion to $56.35 billion. For the next year, analysts expect that the firm will report sales of $59.69 billion, with estimates ranging from $58.54 billion to $60.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow AbbVie.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 59.2% compared to the same quarter last year.

A number of research firms recently weighed in on ABBV. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Tuesday, February 9th. SVB Leerink raised their target price on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Mizuho raised their target price on shares of AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Royal Bank of Canada began coverage on shares of AbbVie in a research report on Wednesday. They issued a $135.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $115.65.

In other news, CEO Richard A. Gonzalez sold 170,113 shares of the firm’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the sale, the chief executive officer now owns 450,981 shares in the company, valued at approximately $48,981,046.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 19,514 shares of the firm’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the sale, the executive vice president now owns 19,514 shares of the company’s stock, valued at approximately $2,119,025.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,067 shares of company stock valued at $21,511,667. 0.09% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new stake in AbbVie in the 4th quarter worth about $227,000. Joseph P. Lucia & Associates LLC acquired a new stake in AbbVie in the 4th quarter worth about $29,000. Alpha DNA Investment Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $33,000. Harding Loevner LP raised its stake in AbbVie by 118.4% in the 3rd quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in AbbVie in the 4th quarter worth about $38,000. Institutional investors own 67.49% of the company’s stock.

AbbVie stock traded up $1.44 during mid-day trading on Monday, reaching $107.54. The company’s stock had a trading volume of 5,977,497 shares, compared to its average volume of 7,499,311. The company has a market capitalization of $189.79 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. AbbVie has a 12 month low of $78.66 and a 12 month high of $113.41. The business’s 50 day simple moving average is $106.60 and its 200 day simple moving average is $101.13. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Wednesday, April 14th. AbbVie’s dividend payout ratio is presently 58.17%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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