William Blair Estimates AbbVie’s FY2024 Earnings (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) – Investment analysts at William Blair boosted their FY2024 earnings estimates for shares of AbbVie in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst M. Phipps now expects that the company will post earnings of $10.93 per share for the year, up from their prior estimate of $10.90. William Blair currently has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.90 per share. William Blair also issued estimates for AbbVie’s Q4 2024 earnings at $2.95 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $3.02 EPS, Q4 2025 earnings at $3.27 EPS, FY2025 earnings at $12.11 EPS and FY2026 earnings at $13.14 EPS.

Other research analysts have also recently issued research reports about the stock. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. UBS Group upped their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Trading Up 1.2 %

NYSE ABBV opened at $203.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie has a 52 week low of $135.85 and a 52 week high of $207.32. The stock has a market capitalization of $360.10 billion, a PE ratio of 70.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. The firm has a 50 day moving average of $194.00 and a two-hundred day moving average of $179.09.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. International Assets Investment Management LLC grew its position in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. Capital World Investors grew its position in shares of AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after buying an additional 3,120,310 shares in the last quarter. Capital International Investors grew its position in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of AbbVie by 156.0% during the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.22%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

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.