Zacks: Analysts Anticipate AbbVie Inc (NYSE:ABBV) Will Announce Earnings of $2.24 Per Share
Wall Street analysts expect AbbVie Inc (NYSE:ABBV) to announce $2.24 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $2.20 and the highest estimate coming in at $2.27. AbbVie reported earnings per share of $1.90 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.9%. The company is scheduled to report its next earnings report on Friday, January 24th.
According to Zacks, analysts expect that AbbVie will report full year earnings of $8.93 per share for the current year, with EPS estimates ranging from $8.87 to $9.00. For the next financial year, analysts expect that the firm will report earnings of $9.41 per share, with EPS estimates ranging from $9.35 to $9.46. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS.
In other AbbVie news, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the completion of the transaction, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Nicholas Donoghoe acquired 7,525 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $66.19 per share, for a total transaction of $498,079.75. Following the transaction, the senior vice president now owns 13,090 shares of the company’s stock, valued at approximately $866,427.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 88,077 shares of company stock valued at $4,401,551. Insiders own 0.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ABBV. Arbor Wealth Management LLC bought a new position in shares of AbbVie in the second quarter valued at approximately $28,000. Lowe Wealth Advisors LLC raised its stake in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 310 shares during the period. Horrell Capital Management Inc. bought a new stake in AbbVie in the 2nd quarter valued at $33,000. TD Capital Management LLC bought a new stake in AbbVie in the 2nd quarter valued at $33,000. Finally, Financial Gravity Wealth Inc. raised its stake in AbbVie by 82.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 228 shares during the period. 68.38% of the stock is currently owned by institutional investors.
NYSE:ABBV traded up $3.00 during trading hours on Friday, reaching $85.01. The company’s stock had a trading volume of 514,519 shares, compared to its average volume of 7,526,836. The company has a market capitalization of $121.00 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. AbbVie has a 12 month low of $62.66 and a 12 month high of $94.98. The stock has a 50 day moving average price of $76.02 and a two-hundred day moving average price of $73.45.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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