AbbVie (NYSE:ABBV) Releases Earnings Results

AbbVie (NYSE:ABBV - Get Free Report) posted its earnings results on Thursday. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08, Briefing.com reports. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the company posted $2.91 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis. AbbVie updated its FY24 guidance to $10.71-10.91 EPS.

AbbVie Stock Up 1.7 %

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NYSE ABBV traded up $3.07 on Friday, hitting $185.24. 6,948,346 shares of the stock were exchanged, compared to its average volume of 5,572,868. The company has a 50-day moving average price of $167.30 and a 200-day moving average price of $169.38. The company has a market cap of $327.11 billion, a PE ratio of 55.39, a PEG ratio of 2.23 and a beta of 0.64. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $186.85. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.35%. AbbVie's dividend payout ratio (DPR) is presently 183.98%.

Analyst Ratings Changes

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A number of analysts have recently commented on ABBV shares. Piper Sandler Companies reissued an "overweight" rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Wells Fargo & Company increased their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price objective on shares of AbbVie in a report on Friday. Morgan Stanley increased their price objective on AbbVie from $191.00 to $196.00 and gave the stock an "overweight" rating in a research report on Thursday, July 11th. Finally, Barclays lifted their target price on AbbVie from $187.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $188.71.

Get Our Latest Research Report on ABBV

Insider Activity

• AbbVie Stock: A Perfect Dip for Investors to Buy

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business's stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company's stock, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company's stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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