Leerink Swann Weighs in on AbbVie Inc.’s Q1 2018 Earnings (ABBV)
AbbVie Inc. (NYSE:ABBV) – Leerink Swann issued their Q1 2018 EPS estimates for shares of AbbVie in a research note issued on Tuesday. Leerink Swann analyst G. Porges expects that the company will earn $1.56 per share for the quarter. Leerink Swann has a “Buy” rating and a $106.00 price objective on the stock. Leerink Swann also issued estimates for AbbVie’s Q4 2018 earnings at $1.89 EPS.
Other equities analysts have also recently issued research reports about the company. Societe Generale boosted their price target on AbbVie in a report on Tuesday, November 21st. Goldman Sachs Group reissued a “buy” rating and set a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Jefferies Group reissued a “buy” rating and set a $94.00 price target on shares of AbbVie in a report on Friday, September 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, September 15th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $96.66.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS.
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 issued a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.98%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is presently 62.29%.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders sold 277,125 shares of company stock worth $25,891,756. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors have recently modified their holdings of ABBV. Bristlecone Advisors LLC purchased a new stake in AbbVie in the third quarter worth $113,000. Acropolis Investment Management LLC purchased a new stake in AbbVie in the second quarter worth $106,000. Ffcm LLC increased its position in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the last quarter. Hudock Capital Group LLC increased its position in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the last quarter. Finally, Hershey Trust Co. purchased a new stake in AbbVie in the third quarter worth $139,000. 69.32% of the stock is owned by hedge funds and other institutional investors.
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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