AbbVie (NYSE:ABBV – Get Free Report) issued its earnings results on Friday. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05, Briefing.com reports. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. AbbVie updated its FY24 guidance to $11.13-$11.33 EPS and its Q2 2024 guidance to 3.050-3.090 EPS.
AbbVie Price Performance
ABBV traded down $7.67 during trading on Friday, hitting $159.62. 10,721,740 shares of the company traded hands, compared to its average volume of 5,004,945. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The company has a market cap of $282.63 billion, a PE ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58. The stock’s 50-day simple moving average is $174.59 and its two-hundred day simple moving average is $160.82. AbbVie has a 1 year low of $130.96 and a 1 year high of $182.89.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.
Insiders Place Their Bets
Analysts Set New Price Targets
Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.
View Our Latest Report on ABBV
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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