AbbVie (NYSE:ABBV) Releases Q4 2024 Earnings Guidance

AbbVie (NYSE:ABBV) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.060-2.100 for the period, compared to the consensus earnings per share estimate of 2.980. The company issued revenue guidance of -. AbbVie also updated its FY 2024 guidance to 10.020-10.060 EPS.

AbbVie Stock Down 0.8 %

NYSE:ABBV traded down $1.39 during trading hours on Monday, reaching $179.83. 6,294,154 shares of the company traded hands, compared to its average volume of 4,922,918. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s 50-day moving average price is $180.39 and its two-hundred day moving average price is $184.31. AbbVie has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $317.78 billion, a P/E ratio of 62.44, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 EPS. Analysts predict that AbbVie will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.65%. AbbVie’s dividend payout ratio is 227.78%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABBV shares. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.