AbbVie Inc. (NYSE:ABBV – Get Rating) – SVB Leerink decreased their FY2022 earnings per share (EPS) estimates for AbbVie in a report released on Wednesday, January 25th. SVB Leerink analyst D. Risinger now anticipates that the company will earn $13.86 per share for the year, down from their previous forecast of $14.01. SVB Leerink currently has a "Underperform" rating and a $135.00 price objective on the stock. The consensus estimate for AbbVie's current full-year earnings is $13.89 per share. SVB Leerink also issued estimates for AbbVie's Q4 2022 earnings at $3.53 EPS, Q1 2023 earnings at $2.88 EPS, FY2023 earnings at $11.53 EPS, FY2025 earnings at $12.07 EPS and FY2027 earnings at $14.05 EPS.
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Other research analysts also recently issued reports about the company. Barclays decreased their price objective on AbbVie from $160.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, October 31st. StockNews.com began coverage on AbbVie in a report on Wednesday, October 12th. They set a "strong-buy" rating for the company. Atlantic Securities decreased their price objective on AbbVie from $162.00 to $157.00 and set a "neutral" rating for the company in a report on Monday, October 31st. Credit Suisse Group began coverage on AbbVie in a research report on Thursday, November 17th. They set an "outperform" rating and a $170.00 price target for the company. Finally, Piper Sandler increased their price target on AbbVie from $155.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of "Hold" and an average price target of $160.56.
AbbVie Stock Down 0.8 %
Shares of AbbVie stock opened at $146.28 on Friday. AbbVie has a 1 year low of $133.05 and a 1 year high of $175.91. The business has a 50-day moving average of $159.29 and a two-hundred day moving average of $149.20. The company has a market capitalization of $258.69 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 3.16 and a beta of 0.69. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.93 and a quick ratio of 0.83.
AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Friday, October 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.10. AbbVie had a return on equity of 155.88% and a net margin of 23.19%. The company had revenue of $14.81 billion during the quarter, compared to the consensus estimate of $14.95 billion. During the same period in the prior year, the company earned $3.33 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year.
Institutional Trading of AbbVie
Hedge funds have recently added to or reduced their stakes in the company. Covenant Asset Management LLC increased its stake in AbbVie by 1.0% during the 2nd quarter. Covenant Asset Management LLC now owns 24,672 shares of the company's stock worth $3,779,000 after acquiring an additional 239 shares during the period. Beacon Financial Advisory LLC increased its stake in AbbVie by 3.5% during the 2nd quarter. Beacon Financial Advisory LLC now owns 10,399 shares of the company's stock worth $1,593,000 after acquiring an additional 353 shares during the period. Corundum Group Inc. increased its stake in AbbVie by 1.9% during the 2nd quarter. Corundum Group Inc. now owns 5,486 shares of the company's stock worth $840,000 after acquiring an additional 100 shares during the period. Dividend Assets Capital LLC increased its stake in AbbVie by 7.1% during the 3rd quarter. Dividend Assets Capital LLC now owns 2,166 shares of the company's stock worth $291,000 after acquiring an additional 143 shares during the period. Finally, Cornerstone Capital Inc. increased its stake in AbbVie by 0.6% during the 3rd quarter. Cornerstone Capital Inc. now owns 203,397 shares of the company's stock worth $27,298,000 after acquiring an additional 1,187 shares during the period. 67.71% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Timothy J. Richmond sold 42,370 shares of the firm's stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $163.44, for a total value of $6,924,952.80. Following the completion of the sale, the executive vice president now directly owns 13,837 shares of the company's stock, valued at $2,261,519.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.
AbbVie Company Profile
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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, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson's, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.
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