Erste Group Bank Boosts Earnings Estimates for AbbVie

AbbVie Inc. (NYSE:ABBV) – Analysts at Erste Group Bank upped their FY2027 earnings per share (EPS) estimates for AbbVie in a research note issued to investors on Tuesday, May 12th. Erste Group Bank analyst H. Engel now expects that the company will post earnings of $16.25 per share for the year, up from their previous forecast of $16.18. The consensus estimate for AbbVie’s current full-year earnings is $14.32 per share.

A number of other equities research analysts have also weighed in on the stock. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Piper Sandler raised their target price on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Morgan Stanley raised their price objective on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.10.

AbbVie Trading Up 1.2%

AbbVie stock opened at $210.95 on Friday. The firm has a market capitalization of $372.71 billion, a price-to-earnings ratio of 103.92, a price-to-earnings-growth ratio of 0.72 and a beta of 0.32. The firm’s fifty day moving average price is $210.78 and its two-hundred day moving average price is $220.17. AbbVie has a 1-year low of $176.57 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period last year, the business earned $2.46 EPS. AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the sale, the executive vice president owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AbbVie

Institutional investors and hedge funds have recently bought and sold shares of the company. Chelsea Counsel Co. purchased a new position in shares of AbbVie during the 3rd quarter valued at $26,000. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $28,000. Imprint Wealth LLC boosted its position in AbbVie by 56.3% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC bought a new position in AbbVie during the fourth quarter worth about $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the fourth quarter worth about $31,000. 70.23% of the stock is owned by institutional investors.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.