Brokerages Anticipate AbbVie Inc (ABBV) Will Announce Quarterly Sales of $8.26 Billion

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Equities research analysts forecast that AbbVie Inc (NYSE:ABBV) will post sales of $8.26 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for AbbVie’s earnings. The lowest sales estimate is $8.12 billion and the highest is $8.41 billion. AbbVie posted sales of $7.00 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 18%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, November 2nd.

On average, analysts expect that AbbVie will report full-year sales of $32.92 billion for the current year, with estimates ranging from $32.60 billion to $33.35 billion. For the next fiscal year, analysts anticipate that the business will report sales of $34.36 billion, with estimates ranging from $33.49 billion to $35.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for AbbVie.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS.

ABBV has been the subject of several research reports. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Monday, October 1st. Bank of America raised their price target on shares of AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Cowen set a $110.00 price target on shares of AbbVie and gave the stock a “buy” rating in a research note on Friday, July 27th. Jefferies Financial Group set a $100.00 price target on shares of AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. Finally, Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $89.00 price target for the company in a research note on Friday, July 13th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $106.98.

In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Dumont & Blake Investment Advisors LLC grew its stake in shares of AbbVie by 3.8% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 22,367 shares of the company’s stock valued at $2,115,000 after buying an additional 822 shares in the last quarter. DeDora Capital Inc. boosted its position in AbbVie by 19.3% during the third quarter. DeDora Capital Inc. now owns 24,730 shares of the company’s stock worth $2,339,000 after purchasing an additional 4,000 shares during the period. NewSquare Capital LLC boosted its position in AbbVie by 7.3% during the third quarter. NewSquare Capital LLC now owns 19,425 shares of the company’s stock worth $1,837,000 after purchasing an additional 1,329 shares during the period. Cornerstone Wealth Management LLC boosted its position in AbbVie by 5.4% during the third quarter. Cornerstone Wealth Management LLC now owns 1,161,558 shares of the company’s stock worth $12,795,000 after purchasing an additional 59,375 shares during the period. Finally, American Financial Network Advisory Services LLC boosted its position in AbbVie by 7,741.6% during the third quarter. American Financial Network Advisory Services LLC now owns 8,861 shares of the company’s stock worth $838,000 after purchasing an additional 8,748 shares during the period. 69.44% of the stock is owned by institutional investors and hedge funds.

ABBV stock traded down $1.93 during mid-day trading on Monday, hitting $87.97. 7,059,591 shares of the company were exchanged, compared to its average volume of 5,059,582. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. The company has a market capitalization of $136.13 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.89 and a beta of 1.54. AbbVie has a 1-year low of $85.24 and a 1-year high of $125.86.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.37%. AbbVie’s dividend payout ratio is presently 68.57%.

AbbVie Company Profile

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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