AbbVie (NYSE:ABBV) Releases Earnings Results

AbbVie (NYSE:ABBVGet Free Report) released its quarterly earnings data on Wednesday. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08, Briefing.com reports. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. AbbVie updated its FY24 guidance to $10.90-10.94 EPS.

AbbVie Trading Up 0.9 %

AbbVie stock traded up $1.74 during trading hours on Thursday, hitting $203.24. The company had a trading volume of 5,082,322 shares, compared to its average volume of 5,315,602. The firm has a market cap of $358.90 billion, a P/E ratio of 60.71, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie has a 1 year low of $135.85 and a 1 year high of $207.32. The company has a 50-day moving average price of $193.85 and a two-hundred day moving average price of $178.91.

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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.23%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 183.98%.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. Citigroup boosted their price objective on shares of AbbVie from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Truist Financial upped their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $200.11.

Check Out Our Latest Analysis on ABBV

AbbVie Company Profile

(Get Free Report)

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.

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Earnings History for AbbVie (NYSE:ABBV)

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