FY2019 Earnings Forecast for AbbVie Inc (ABBV) Issued By Leerink Swann

AbbVie Inc (NYSE:ABBV) – Leerink Swann raised their FY2019 earnings per share estimates for AbbVie in a note issued to investors on Thursday. Leerink Swann analyst G. Porges now anticipates that the company will post earnings per share of $9.37 for the year, up from their prior estimate of $8.36. Leerink Swann currently has a “Buy” rating and a $106.00 target price on the stock.

AbbVie (NYSE:ABBV) last announced 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. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year.

A number of other equities analysts have also commented on the company. Jefferies Group boosted their price objective on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Friday, October 27th. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Piper Jaffray Companies boosted their price objective on AbbVie to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $101.63.

AbbVie (NYSE:ABBV) traded down $1.11 during trading on Monday, reaching $105.38. The company’s stock had a trading volume of 5,095,199 shares, compared to its average volume of 4,520,000. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The firm has a market capitalization of $167,990.00, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.22 and a beta of 1.53. AbbVie has a one year low of $59.27 and a one year high of $106.97.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 68.93%.

In other news, insider Laura J. Schumacher sold 145,510 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock worth $47,237,938 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Pratt Collard Advisory Partners LLC bought a new stake in AbbVie in the fourth quarter valued at about $851,000. MHI Funds LLC bought a new stake in AbbVie in the fourth quarter valued at about $2,509,000. Spearhead Capital Advisors LLC bought a new stake in AbbVie in the fourth quarter valued at about $2,647,000. Comprehensive Portfolio Management LLC bought a new stake in AbbVie in the fourth quarter valued at about $479,000. Finally, Armstrong Henry H Associates Inc. increased its holdings in AbbVie by 2.4% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 25,441 shares of the company’s stock valued at $2,460,000 after purchasing an additional 600 shares during the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.

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About AbbVie

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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