Leerink Swann Weighs in on AbbVie Inc.’s Q1 2018 Earnings (ABBV)
AbbVie Inc. (NYSE:ABBV) – Analysts at Leerink Swann issued their Q1 2018 EPS estimates for AbbVie in a report released on Tuesday. Leerink Swann analyst G. Porges expects that the company will post earnings of $1.56 per share for the quarter. Leerink Swann has a “Buy” rating and a $106.00 price objective on the stock. Leerink Swann also issued estimates for AbbVie’s Q4 2018 earnings at $1.89 EPS.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS.
A number of other analysts have also recently weighed in on ABBV. Evercore ISI initiated coverage on shares of AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 target price on the stock. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $94.00 target price on shares of AbbVie in a research note on Friday, September 8th. Goldman Sachs Group reissued a “buy” rating and issued a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Finally, Cowen reissued a “hold” rating and issued a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $96.66.
AbbVie (ABBV) traded down $1.01 during midday trading on Wednesday, reaching $94.40. 5,114,200 shares of the company were exchanged, compared to its average volume of 6,120,710. The company has a market capitalization of $152,315.39, a PE ratio of 17.97, a P/E/G ratio of 1.35 and a beta of 1.52. AbbVie has a twelve month low of $58.80 and a twelve month high of $98.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
Several hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC lifted its position in shares of AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC lifted its position in shares of AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC lifted its position in shares of AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares in the last quarter. Bollard Group LLC lifted its position in shares of AbbVie by 0.5% during the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after purchasing an additional 19 shares in the last quarter. Finally, St. Louis Trust Co lifted its position in shares of AbbVie by 0.7% during the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 69.32% of the company’s stock.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,125 shares of company stock worth $25,891,756. Company insiders own 0.23% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 3.01%. AbbVie’s payout ratio is 62.29%.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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