AbbVie Inc. (NYSE:ABBV) – Equities researchers at Leerink Swann issued their Q2 2018 earnings estimates for AbbVie in a note issued to investors on Tuesday. Leerink Swann analyst G. Porges anticipates that the company will post earnings per share of $1.75 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 Q3 2018 earnings at $1.79 EPS and FY2018 earnings at $6.99 EPS.
Other equities analysts also recently issued research reports about the company. Evercore ISI began coverage on AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. SunTrust Banks reissued a “buy” rating and set a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. UBS cut shares of AbbVie from a “buy” rating to a “neutral” rating and boosted their target price for the company from $79.00 to $92.00 in a report on Monday, September 25th. Argus boosted their target price on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $100.00 target price on shares of AbbVie in a report on Friday, September 15th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $97.96.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. AbbVie’s revenue for the quarter was up 8.8% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its holdings in shares of AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after purchasing an additional 2,130,919 shares during the period. Vanguard Group Inc. lifted its holdings in AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares during the period. BlackRock Inc. lifted its holdings in AbbVie by 2.0% in the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares during the period. State Street Corp lifted its holdings in AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the period. Finally, Orbis Allan Gray Ltd lifted its holdings in AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares during the period. 69.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Michael Severino sold 25,633 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on 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 completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. In the last three months, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
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AbbVie Company Profile
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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