Zacks: Analysts Anticipate AbbVie Inc (ABBV) Will Post Quarterly Sales of $7.56 Billion
Equities analysts forecast that AbbVie Inc (NYSE:ABBV) will report sales of $7.56 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for AbbVie’s earnings, with the lowest sales estimate coming in at $7.51 billion and the highest estimate coming in at $7.63 billion. AbbVie posted sales of $6.80 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is scheduled to issue its next earnings results on Friday, January 26th.
According to Zacks, analysts expect that AbbVie will report full-year sales of $7.56 billion for the current fiscal year, with estimates ranging from $27.88 billion to $28.11 billion. For the next financial year, analysts forecast that the company will post sales of $31.31 billion per share, with estimates ranging from $30.77 billion to $32.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover AbbVie.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share.
Shares of AbbVie (NYSE:ABBV) opened at $97.35 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market capitalization of $153,736.20, a PE ratio of 18.14, a P/E/G ratio of 1.34 and a beta of 1.52. AbbVie has a 12 month low of $59.27 and a 12 month high of $98.87.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is currently 62.29%.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,825 shares of company stock valued at $25,186,090. 0.23% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ABBV. Formidable Asset Management LLC increased its stake in shares of AbbVie by 0.3% in the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC boosted its holdings in AbbVie by 0.3% in the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after buying an additional 15 shares during the period. Abner Herrman & Brock LLC boosted its holdings in AbbVie by 0.3% in the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after buying an additional 18 shares during the period. Bollard Group LLC boosted its holdings in AbbVie by 0.5% in the 2nd quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after buying an additional 19 shares during the period. Finally, St. Louis Trust Co boosted its holdings in AbbVie by 0.7% in the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.
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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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