AbbVie (NYSE:ABBV – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $11.13-$11.33 for the period, compared to the consensus EPS estimate of $11.12.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock an overweight rating in a research report on Wednesday, March 27th. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an outperform rating in a report on Monday, February 5th. William Blair raised AbbVie from a market perform rating to an outperform rating in a report on Monday, January 29th. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the stock an outperform rating in a report on Monday, February 5th. Finally, Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the stock a buy rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $177.43.
View Our Latest Report on AbbVie
AbbVie Trading Down 0.3 %
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the business earned $3.60 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts forecast that AbbVie will post 11.19 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.71%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.
Insider Buying and Selling at AbbVie
In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently 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.
Recommended Stories
- Five stocks we like better than AbbVie
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- Microsoft Fires a Trend Following Signal: Targets Move Higher
- What is the Euro STOXX 50 Index?
- Semiconductor Shakeout: Finding Potential Amidst Turmoil
- How to Invest in Blue Chip Stocks
- Hasbro’s Management Made All the Right Calls This Quarter
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.