AbbVie (NYSE:ABBV) Updates Q1 Earnings Guidance

AbbVie (NYSE:ABBV) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $2.34-2.38 for the period, compared to the consensus EPS estimate of $2.51. AbbVie also updated its FY25 guidance to $11.99-12.19 EPS.

AbbVie Stock Down 1.9 %

ABBV traded down $3.88 on Thursday, hitting $201.31. 7,584,333 shares of the company were exchanged, compared to its average volume of 5,769,388. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s fifty day moving average is $199.66 and its 200-day moving average is $189.22. The company has a market cap of $356.11 billion, a PE ratio of 83.88, a PEG ratio of 1.62 and a beta of 0.61. AbbVie has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. Equities research analysts predict that AbbVie will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

An institutional investor recently raised its position in AbbVie stock. Revolve Wealth Partners LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 72.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,279 shares of the company’s stock after acquiring an additional 3,064 shares during the period. Revolve Wealth Partners LLC’s holdings in AbbVie were worth $1,294,000 at the end of the most recent quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.