AbbVie Inc. (NYSE:ABBV) Expected to Post Quarterly Sales of $15.05 Billion

Analysts expect AbbVie Inc. (NYSE:ABBV) to announce sales of $15.05 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for AbbVie’s earnings, with the highest sales estimate coming in at $15.11 billion and the lowest estimate coming in at $15.02 billion. AbbVie posted sales of $13.86 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is expected to announce its next earnings results on Wednesday, February 2nd.

According to Zacks, analysts expect that AbbVie will report full year sales of $56.27 billion for the current fiscal year, with estimates ranging from $56.21 billion to $56.35 billion. For the next fiscal year, analysts expect that the company will post sales of $60.04 billion, with estimates ranging from $59.08 billion to $61.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover AbbVie.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, October 28th. The company reported $3.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.11. AbbVie had a return on equity of 166.05% and a net margin of 13.66%. The business had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the previous year, the firm posted $2.83 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year.

ABBV has been the topic of several research reports. Argus upped their price objective on AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Truist Securities upped their price objective on AbbVie from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist upped their price objective on AbbVie from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays upped their price objective on AbbVie from $112.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, November 1st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $129.58.

In related news, Director Roxanne S. Austin sold 51,844 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $116.38, for a total value of $6,033,604.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV lifted its position in AbbVie by 0.9% in the second quarter. Nations Financial Group Inc. IA ADV now owns 9,813 shares of the company’s stock worth $1,105,000 after purchasing an additional 86 shares during the period. Adirondack Trust Co. lifted its position in AbbVie by 0.6% in the third quarter. Adirondack Trust Co. now owns 14,308 shares of the company’s stock worth $1,641,000 after purchasing an additional 86 shares during the period. Invst LLC lifted its position in AbbVie by 0.9% in the second quarter. Invst LLC now owns 9,585 shares of the company’s stock worth $1,126,000 after purchasing an additional 88 shares during the period. Samalin Investment Counsel LLC lifted its position in AbbVie by 0.9% in the second quarter. Samalin Investment Counsel LLC now owns 10,323 shares of the company’s stock worth $1,163,000 after purchasing an additional 88 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in AbbVie by 24.1% in the first quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 65.86% of the company’s stock.

Shares of NYSE:ABBV traded down $0.22 during trading on Thursday, hitting $118.66. The company’s stock had a trading volume of 5,792,843 shares, compared to its average volume of 6,833,980. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.91 and a current ratio of 1.01. AbbVie has a fifty-two week low of $101.55 and a fifty-two week high of $121.53. The stock’s 50-day moving average price is $111.61 and its two-hundred day moving average price is $113.90. The company has a market capitalization of $209.69 billion, a PE ratio of 28.25, a PEG ratio of 2.46 and a beta of 0.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 4.75%. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, January 13th. AbbVie’s dividend payout ratio is 123.81%.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses 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; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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