AbbVie (NYSE:ABBV) Updates Q4 2024 Earnings Guidance

AbbVie (NYSE:ABBV) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.060-2.100 for the period, compared to the consensus estimate of 2.980. The company issued revenue guidance of -. AbbVie also updated its FY 2024 guidance to 10.020-10.060 EPS.

AbbVie Trading Down 0.8 %

NYSE ABBV traded down $1.39 on Monday, reaching $179.83. The company had a trading volume of 6,300,887 shares, compared to its average volume of 4,922,918. The firm has a market cap of $317.78 billion, a price-to-earnings ratio of 62.44, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business has a 50 day moving average of $180.39 and a two-hundred day moving average of $184.31. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 EPS. Analysts forecast that AbbVie will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.65%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Truist Financial raised their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were 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 $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company 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.