Analysts Offer Predictions for AbbVie FY2029 Earnings

AbbVie Inc. (NYSE:ABBV) – Leerink Partnrs issued their FY2029 EPS estimates for shares of AbbVie in a research note issued to investors on Monday, January 6th. Leerink Partnrs analyst D. Risinger expects that the company will post earnings per share of $18.28 for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.96 per share.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the company posted $2.95 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year.

Several other equities analysts also recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley lowered their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Guggenheim raised their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Performance

AbbVie stock opened at $179.59 on Wednesday. The business’s 50-day moving average price is $180.00 and its two-hundred day moving average price is $184.42. AbbVie has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $317.36 billion, a PE ratio of 62.36, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in 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 during the last quarter. State Street Corp raised its holdings in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after acquiring an additional 623,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.