AbbVie (NYSE:ABBV) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

AbbVie (NYSE:ABBV – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 10.710-10.910 for the period, compared to the consensus EPS estimate of 10.880. The company issued revenue guidance of -. AbbVie also updated its FY24 guidance to $10.67-10.87 EPS.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair upgraded AbbVie to a strong-buy rating in a research note on Friday, August 30th. Cantor Fitzgerald reissued an overweight rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an overweight rating in a research report on Monday, August 12th. Finally, Barclays upped their target price on shares of AbbVie from $187.00 to $200.00 and gave the company an overweight rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of Moderate Buy and a consensus price target of $191.64.

View Our Latest Stock Report on ABBV

AbbVie Trading Down 0.6 %

Shares of NYSE:ABBV opened at $194.29 on Friday. AbbVie has a 12-month low of $135.85 and a 12-month high of $199.95. The business has a 50 day moving average of $193.35 and a 200-day moving average of $176.83. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock has a market cap of $343.09 billion, a PE ratio of 57.65, a P/E/G ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the firm posted $2.91 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Get Free Report)

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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