ABBVIE Stock- Q2 2021 EPS Estimates for AbbVie Inc. (NYSE:ABBV) Increased by Analyst
AbbVie Inc. (NYSE:ABBV) – Analysts at Truist Securiti lifted their Q2 2021 earnings estimates for shares of AbbVie in a research note issued to investors on Tuesday, April 13th. Truist Securiti analyst G. Gilbert now forecasts that the company will post earnings per share of $3.09 for the quarter, up from their previous estimate of $3.08. AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.07. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The business’s revenue was up 59.2% on a year-over-year basis.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Tuesday, February 9th. Morgan Stanley reduced their price target on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, January 28th. SVB Leerink upped their target price on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Royal Bank of Canada began coverage on AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 target price on the stock. Finally, Mizuho increased their price target on AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $115.65.
Shares of NYSE ABBV opened at $108.22 on Wednesday. The stock has a market capitalization of $190.99 billion, a P/E ratio of 22.88, a PEG ratio of 1.54 and a beta of 0.84. The business’s 50 day moving average is $106.80 and its two-hundred day moving average is $101.55. AbbVie has a 1-year low of $79.11 and a 1-year high of $113.41. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81.
A number of institutional investors and hedge funds have recently modified their holdings of ABBV. Bogart Wealth LLC lifted its stake in shares of AbbVie by 5.8% during the fourth quarter. Bogart Wealth LLC now owns 34,991 shares of the company’s stock valued at $3,749,000 after buying an additional 1,919 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in shares of AbbVie by 15.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 225,908 shares of the company’s stock worth $24,206,000 after buying an additional 29,528 shares during the last quarter. J. W. Coons Advisors LLC lifted its position in shares of AbbVie by 42.3% in the 4th quarter. J. W. Coons Advisors LLC now owns 17,530 shares of the company’s stock worth $1,881,000 after buying an additional 5,214 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of AbbVie by 27.2% in the 4th quarter. Sound Income Strategies LLC now owns 42,967 shares of the company’s stock worth $4,604,000 after buying an additional 9,185 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its position in shares of AbbVie by 3.6% in the 4th quarter. Advisors Capital Management LLC now owns 263,577 shares of the company’s stock worth $28,242,000 after buying an additional 9,115 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.
In other news, EVP Timothy J. Richmond sold 19,514 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the transaction, the executive vice president now directly owns 19,514 shares in the company, valued at $2,119,025.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Elaine K. Sorg sold 8,440 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $916,668.40. Following the transaction, the senior vice president now owns 26,035 shares in the company, valued at $2,827,661.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,067 shares of company stock valued at $21,511,667. 0.09% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.81%. AbbVie’s dividend payout ratio (DPR) is presently 58.17%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m’s macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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