Leerink Partnrs Weighs in on AbbVie FY2029 Earnings

AbbVie Inc. (NYSE:ABBV) – Research analysts at Leerink Partnrs issued their FY2029 EPS estimates for shares of AbbVie in a report released on Monday, January 6th. Leerink Partnrs analyst D. Risinger forecasts that the company will post earnings per share of $18.28 for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.96 per share.

Several other equities analysts have also issued reports on the company. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 0.3 %

Shares of AbbVie stock opened at $179.59 on Wednesday. The business has a fifty day simple moving average of $180.00 and a 200 day simple moving average of $184.42. The stock has a market cap of $317.36 billion, a PE ratio of 62.36, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. 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 $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is currently 227.78%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Weaver Consulting Group boosted its position in shares of AbbVie by 5.8% in the fourth quarter. Weaver Consulting Group now owns 1,349 shares of the company’s stock valued at $240,000 after acquiring an additional 74 shares during the period. Innova Wealth Partners raised its stake in AbbVie by 217.9% in the 4th quarter. Innova Wealth Partners now owns 4,787 shares of the company’s stock worth $851,000 after purchasing an additional 3,281 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $2,629,000. Spartan Planning & Wealth Management bought a new position in shares of AbbVie during the fourth quarter worth approximately $256,000. Finally, Diversified Trust Co raised its position in shares of AbbVie by 4.8% in the fourth quarter. Diversified Trust Co now owns 41,870 shares of the company’s stock valued at $7,440,000 after buying an additional 1,904 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.