Leerink Partnrs Forecasts AbbVie FY2029 Earnings

AbbVie Inc. (NYSE:ABBV) – Stock analysts at Leerink Partnrs issued their FY2029 EPS estimates for AbbVie in a research report issued on Monday, January 6th. Leerink Partnrs analyst D. Risinger forecasts that the company will post earnings per share of $18.28 for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for AbbVie’s current full-year earnings is $10.96 per share.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share.

Several other equities analysts have also recently commented on the stock. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Price Performance

Shares of AbbVie stock opened at $178.65 on Wednesday. The stock has a market capitalization of $315.70 billion, a price-to-earnings ratio of 62.03, a PEG ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a fifty day simple moving average of $179.54 and a 200-day simple moving average of $184.38.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

A number of hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter worth about $26,000. Groupama Asset Managment raised its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter valued at $28,000. Quest Partners LLC lifted its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors.

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.