Jefferies Group Analysts Raise Earnings Estimates for AbbVie Inc (ABBV)

AbbVie Inc (NYSE:ABBV) – Jefferies Group raised their FY2019 earnings per share (EPS) estimates for AbbVie in a research note issued on Tuesday. Jefferies Group analyst J. Holford now expects that the company will earn $8.48 per share for the year, up from their previous estimate of $8.18. Jefferies Group currently has a “Buy” rating and a $120.00 target price on the stock. Jefferies Group also issued estimates for AbbVie’s FY2020 earnings at $9.61 EPS and FY2021 earnings at $10.74 EPS.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS.

ABBV has been the subject of several other reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Tuesday, October 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Deutsche Bank lifted their price objective on shares of AbbVie to $88.00 and gave the company a “hold” rating in a research note on Thursday, September 28th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective for the company in a research note on Wednesday, December 20th. Finally, Cowen upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $101.38.

Shares of AbbVie (NYSE:ABBV) traded up $0.83 during midday trading on Thursday, reaching $104.64. 4,985,982 shares of the company’s stock traded hands, compared to its average volume of 4,550,000. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a twelve month low of $59.27 and a twelve month high of $104.87. The firm has a market cap of $166,810.00, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter worth $106,000. Hudock Capital Group LLC raised its position in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC raised its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new position in AbbVie during the third quarter worth $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in AbbVie during the second quarter worth $115,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

In related news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,676 shares of company stock valued at $47,237,938. Company insiders own 0.23% of the company’s stock.

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 is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is currently 68.93%.

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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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