Q4 2018 EPS Estimates for AbbVie Inc Cut by Analyst (ABBV)

AbbVie Inc (NYSE:ABBV) – William Blair cut their Q4 2018 earnings estimates for shares of AbbVie in a research report issued on Monday, November 5th. William Blair analyst Y. Xu now expects that the company will earn $1.88 per share for the quarter, down from their prior forecast of $2.00.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS.

A number of other brokerages have also recently commented on ABBV. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the company a “sell” rating in a report on Saturday, October 20th. SunTrust Banks dropped their target price on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Wolfe Research assumed coverage on shares of AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Monday, October 1st. Finally, Bank of America dropped their target price on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus target price of $103.68.

Shares of AbbVie stock opened at $87.73 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 8.70. The firm has a market cap of $126.68 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.79 and a beta of 1.62. AbbVie has a 12-month low of $77.50 and a 12-month high of $125.86.

A number of institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC increased its position in shares of AbbVie by 7.4% during the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock valued at $688,000 after purchasing an additional 500 shares during the last quarter. Baxter Bros Inc. increased its position in shares of AbbVie by 19.6% during the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock valued at $289,000 after purchasing an additional 500 shares during the last quarter. Good Life Advisors LLC increased its position in shares of AbbVie by 5.6% during the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock valued at $933,000 after purchasing an additional 537 shares during the last quarter. Lido Advisors LLC increased its position in shares of AbbVie by 2.4% during the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock valued at $2,165,000 after purchasing an additional 537 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. increased its position in shares of AbbVie by 20.1% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 3,214 shares of the company’s stock valued at $304,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 69.43% of the company’s stock.

In related news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the transaction, the executive vice president now owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a $1.07 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a yield of 4.88%. AbbVie’s payout ratio is presently 68.57%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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