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 (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%.
WARNING: “FY2017 Earnings Estimate for AbbVie Inc (ABBV) Issued By Leerink Swann” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/19/fy2017-earnings-estimate-for-abbvie-inc-abbv-issued-by-leerink-swann.html.
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.
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.