AbbVie Inc. (NYSE:ABBV) Updates FY17 Earnings Guidance

AbbVie Inc. (NYSE:ABBV) issued an update on its FY17 earnings guidance on Friday morning. The company provided earnings per share guidance of $5.53-5.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.54. AbbVie also updated its FY18 guidance to $6.37-6.57 EPS.

Several equities research analysts recently weighed in on the company. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $76.28 target price for the company in a research note on Wednesday, July 26th. Deutsche Bank AG reiterated a hold rating and issued a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. BidaskClub cut AbbVie from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Jefferies Group LLC reiterated a buy rating and issued a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, UBS AG reissued a neutral rating on shares of AbbVie in a report on Friday, October 13th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $93.68.

AbbVie Inc. (NYSE ABBV) opened at $95.43 on Monday. AbbVie Inc. has a 12-month low of $58.60 and a 12-month high of $98.26. The firm has a market capitalization of $152,347.33, a PE ratio of 17.97, a P/E/G ratio of 1.32 and a beta of 1.51. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.25 and a current ratio of 1.45.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. analysts predict that AbbVie Inc. will post 5.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.98%. AbbVie’s dividend payout ratio is currently 62.29%.

In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold 33,299 shares of company stock valued at $2,952,243 over the last 90 days. 0.23% of the stock is currently owned by insiders.

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Several hedge funds have recently bought and sold shares of ABBV. Ffcm LLC grew its stake in shares of AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of AbbVie by 1,172.6% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after buying an additional 2,052 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of AbbVie by 223.9% in the second quarter. Acrospire Investment Management LLC now owns 2,604 shares of the company’s stock valued at $189,000 after buying an additional 1,800 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AbbVie by 4.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,629 shares of the company’s stock valued at $190,000 after buying an additional 119 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new stake in AbbVie during the 2nd quarter valued at approximately $193,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

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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