AbbVie Inc (NYSE:ABBV) – Leerink Swann issued their Q1 2018 earnings estimates for AbbVie in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Leerink Swann analyst G. Porges expects that the company will post earnings of $1.56 per share for the quarter. Leerink Swann currently has a “Buy” rating and a $106.00 target price on the stock. Leerink Swann also issued estimates for AbbVie’s Q4 2018 earnings at $1.89 EPS.
Other research analysts have also recently issued reports about the stock. SunTrust Banks reissued a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a research note on Wednesday, September 13th. UBS Group cut shares of AbbVie from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $92.00 in a research note on Monday, September 25th. Argus lifted their price objective on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Barclays reissued a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $107.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $100.26.
AbbVie (NYSE:ABBV) last released its quarterly 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is presently 62.29%.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction 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 sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The stock was 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 directly 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 ninety days, insiders have sold 494,676 shares of company stock worth $47,237,938. Insiders own 0.23% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC lifted its holdings in AbbVie by 5.8% in the third quarter. Parametric Portfolio Associates LLC now owns 3,418,955 shares of the company’s stock valued at $303,808,000 after buying an additional 188,933 shares during the period. Shelton Capital Management lifted its holdings in AbbVie by 59.6% in the third quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock valued at $11,356,000 after buying an additional 47,700 shares during the period. GSB Wealth Management LLC acquired a new position in AbbVie in the third quarter valued at $240,000. Steward Partners Investment Advisory LLC acquired a new position in AbbVie in the third quarter valued at $5,754,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in AbbVie by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after buying an additional 4,028 shares during the period. 69.18% of the stock is currently owned by institutional investors.
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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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