AbbVie Inc. (NYSE:ABBV – Get Rating) – Investment analysts at SVB Leerink lowered their Q3 2022 EPS estimates for shares of AbbVie in a research note issued on Friday, September 30th. SVB Leerink analyst G. Porges now forecasts that the company will earn $3.58 per share for the quarter, down from their prior forecast of $3.59. The consensus estimate for AbbVie's current full-year earnings is $14.06 per share. SVB Leerink also issued estimates for AbbVie's Q4 2022 earnings at $3.81 EPS and FY2022 earnings at $14.06 EPS.

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ABBV has been the subject of a number of other research reports. Argus dropped their price objective on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, August 24th. Barclays dropped their price objective on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Atlantic Securities dropped their price objective on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, August 1st. UBS Group dropped their price objective on shares of AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a research note on Monday, August 1st. Finally, Piper Sandler dropped their target price on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $159.35.

AbbVie Trading Down 6.0 %

Shares of ABBV stock opened at $134.21 on Monday. AbbVie has a 52-week low of $106.86 and a 52-week high of $175.91. The stock has a market cap of $237.30 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 4.01 and a beta of 0.72. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. The firm has a fifty day moving average of $141.00 and a 200-day moving average of $149.06.

AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the firm earned $3.11 EPS. The business's revenue was up 4.5% on a year-over-year basis.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 4.20%. The ex-dividend date is Thursday, October 13th. AbbVie's payout ratio is presently 79.89%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital International Investors boosted its stake in AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company's stock worth $4,943,993,000 after acquiring an additional 18,882,699 shares during the last quarter. Norges Bank acquired a new position in AbbVie during the fourth quarter worth $2,433,269,000. Vanguard Group Inc. increased its holdings in AbbVie by 2.9% during the first quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company's stock worth $24,400,600,000 after buying an additional 4,206,711 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in AbbVie by 426.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company's stock worth $754,155,000 after buying an additional 3,768,579 shares during the last quarter. Finally, GQG Partners LLC boosted its position in AbbVie by 1,706.1% during the second quarter. GQG Partners LLC now owns 3,051,620 shares of the company's stock worth $467,658,000 after purchasing an additional 2,882,655 shares during the period. Institutional investors own 68.25% of the company's stock.

AbbVie Company Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

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