William Blair Has Bullish Estimate for AbbVie Q4 Earnings

AbbVie Inc. (NYSE:ABBV) – Stock analysts at William Blair raised their Q4 2024 earnings per share (EPS) estimates for AbbVie in a research note issued 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 prior 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.

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

A number of other brokerages have also recently issued reports on ABBV. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Truist Financial raised their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Guggenheim increased their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie Trading Down 2.8 %

ABBV stock opened at $164.91 on Thursday. The business has a fifty day moving average of $192.62 and a 200-day moving average of $180.76. The company has a market cap of $291.42 billion, a P/E ratio of 57.89, a PEG ratio of 2.07 and a beta of 0.63. AbbVie has a twelve month low of $137.05 and a twelve month high of $207.32. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Institutional Investors Weigh In On AbbVie

Several large investors have recently modified their holdings of ABBV. Vanguard Group Inc. raised its stake in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares during the period. International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. Capital World Investors lifted its stake in shares of AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after buying an additional 3,120,310 shares in the last quarter. Capital International Investors boosted its holdings in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares during the period. Finally, Swedbank AB purchased a new position in AbbVie in the 1st quarter valued at approximately $367,372,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

About AbbVie

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.