AbbVie (ABBV) Set to Announce Earnings on Friday
AbbVie (NYSE:ABBV) is scheduled to post its quarterly earnings results before the market opens on Friday, January 26th. Analysts expect AbbVie to post earnings of $1.43 per share for the quarter. AbbVie has set its FY17 guidance at $5.53-5.55 EPS and its FY18 guidance at $6.37-6.57 EPS.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating 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%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. On average, analysts expect AbbVie to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of AbbVie (ABBV) opened at $103.81 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a one year low of $59.27 and a one year high of $104.85. The stock has a market cap of $165,480.00, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last ninety days. 0.23% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. North Star Asset Management Inc. grew its stake in shares of AbbVie by 0.9% during the second quarter. North Star Asset Management Inc. now owns 17,180 shares of the company’s stock valued at $1,246,000 after purchasing an additional 150 shares during the last quarter. Colony Group LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $306,000. High Falls Advisors Inc grew its stake in shares of AbbVie by 1.4% during the second quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock valued at $317,000 after purchasing an additional 60 shares during the last quarter. Keel Point LLC boosted its stake in AbbVie by 2.7% in the second quarter. Keel Point LLC now owns 8,421 shares of the company’s stock valued at $611,000 after acquiring an additional 220 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in AbbVie by 1.5% in the second quarter. National Asset Management Inc. now owns 26,774 shares of the company’s stock valued at $1,942,000 after acquiring an additional 389 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Thursday. Leerink Swann set a $106.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a report on Tuesday, December 5th. Argus upped their price objective on shares of AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. UBS Group cut shares of AbbVie from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Finally, Jefferies Group reiterated a “buy” rating and issued a $107.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $101.38.
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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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