AbbVie (NYSE:ABBV – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08, Briefing.com reports. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The firm’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 Performance
NYSE ABBV traded up $2.99 during trading hours on Friday, hitting $185.16. The company’s stock had a trading volume of 6,948,832 shares, compared to its average volume of 5,529,298. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a market cap of $326.97 billion, a P/E ratio of 54.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. The company’s 50 day simple moving average is $167.68 and its two-hundred day simple moving average is $169.55. AbbVie has a 12 month low of $135.85 and a 12 month high of $186.85.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.35%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.
Insider Buying and Selling at AbbVie
Wall Street Analysts Forecast Growth
ABBV has been the topic of a number of analyst reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Barclays upped their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Friday. 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. Finally, Morgan Stanley raised their price target on AbbVie from $191.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Two research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.71.
Read Our Latest Report on ABBV
AbbVie Company Profile
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.
Read More
- Five stocks we like better than AbbVie
- What is Forex and How Does it Work?
- Why Call Options Volume for These 2 Stocks Spiked Together
- Stock Dividend Cuts Happen Are You Ready?
- MarketBeat Week in Review – 7/22 – 7/26
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.