FY2017 Earnings Estimate for AbbVie Inc (ABBV) Issued By Leerink Swann

AbbVie Inc (NYSE:ABBV) – Leerink Swann boosted their FY2017 earnings per share estimates for AbbVie in a research note issued on Thursday. Leerink Swann analyst G. Porges now expects that the company will post earnings of $5.65 per share for the year, up from their prior forecast of $5.59. Leerink Swann currently has a “Buy” rating and a $106.00 price target on the stock. Leerink Swann also issued estimates for AbbVie’s Q4 2017 earnings at $1.51 EPS, Q2 2018 earnings at $1.73 EPS, Q3 2018 earnings at $1.78 EPS, Q4 2018 earnings at $1.91 EPS and FY2021 earnings at $9.71 EPS.

Several other brokerages have also commented on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Thursday. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. Jefferies Group upped their price target on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $101.38.

AbbVie (ABBV) opened at $103.81 on Friday. AbbVie has a 12 month low of $59.27 and a 12 month high of $104.85. The company has a market capitalization of $166,603.42, a price-to-earnings ratio of 25.26, a PEG ratio of 1.23 and a beta of 1.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Formidable Asset Management LLC increased its holdings 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 valued at $285,000 after acquiring an additional 10 shares during the last quarter. WealthTrust Axiom LLC increased its holdings in shares of AbbVie by 0.3% in the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after acquiring an additional 15 shares during the last quarter. Abner Herrman & Brock LLC increased its holdings in shares of AbbVie by 0.3% in the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after acquiring an additional 18 shares during the last quarter. St. Louis Trust Co increased its holdings in shares of AbbVie by 0.7% in the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after acquiring an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of AbbVie by 0.6% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 494,676 shares of company stock worth $47,237,938. 0.23% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.74%. AbbVie’s dividend payout ratio is presently 69.10%.

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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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