AbbVie (NYSE:ABBV – Get Free Report) announced its quarterly earnings results on Friday. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05, Briefing.com reports. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The firm’s revenue was up .7% on a year-over-year basis. AbbVie updated its FY24 guidance to $11.13-$11.33 EPS and its Q2 2024 guidance to 3.050-3.090 EPS.
AbbVie Stock Down 4.6 %
Shares of ABBV stock opened at $159.62 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm’s 50-day moving average is $174.59 and its 200-day moving average is $160.74. The stock has a market cap of $282.63 billion, a price-to-earnings ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58. AbbVie has a 52-week low of $130.96 and a 52-week high of $182.89.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. AbbVie’s payout ratio is 227.11%.
Analyst Ratings Changes
View Our Latest Report on ABBV
Insider Activity
In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by company insiders.
About AbbVie
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.
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