Analysts forecast that AbbVie Inc. (NYSE:ABBV) will report $8.20 billion in sales for the current quarter, Zacks reports. Six analysts have provided estimates for AbbVie’s earnings. The highest sales estimate is $8.45 billion and the lowest is $7.94 billion. AbbVie posted sales of $6.94 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.2%. The business is expected to report its next quarterly earnings report on Friday, July 27th.
According to Zacks, analysts expect that AbbVie will report full year sales of $32.88 billion for the current financial year, with estimates ranging from $32.08 billion to $33.88 billion. For the next year, analysts anticipate that the firm will post sales of $34.83 billion per share, with estimates ranging from $34.27 billion to $36.08 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for AbbVie.
AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 167.78%. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same period in the prior year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, the chief financial officer now directly owns 203,391 shares in the company, valued at $23,833,357.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Insiders have sold 211,197 shares of company stock valued at $24,585,575 in the last ninety days. Company insiders own 0.07% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Truewealth LLC bought a new position in AbbVie during the fourth quarter worth about $126,000. Delpha Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $131,000. Virtue Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $139,000. We Are One Seven LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $148,000. Finally, Trustcore Financial Services LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $148,000. Institutional investors own 70.29% of the company’s stock.
Shares of NYSE ABBV traded up $5.52 during mid-day trading on Thursday, reaching $102.07. The company had a trading volume of 11,910,320 shares, compared to its average volume of 7,264,986. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18. The company has a market capitalization of $156,780.58, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61. AbbVie has a 52-week low of $64.61 and a 52-week high of $125.86.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.76%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is currently 68.57%.
AbbVie announced that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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