AbbVie (ABBV) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

AbbVie (NYSE:ABBV) posted its quarterly earnings results on Friday. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.44 by $0.04, Bloomberg Earnings reports. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. AbbVie updated its FY18 guidance to $7.33-7.43 EPS and its Q1 guidance to $1.77-1.79 EPS.

Shares of AbbVie (ABBV) opened at $123.21 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a 12 month low of $59.27 and a 12 month high of $125.86. The stock has a market cap of $223,450.00, a PE ratio of 29.91, a PEG ratio of 1.26 and a beta of 1.53.

In other news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 494,676 shares of company stock worth $47,237,938. Corporate insiders own 0.23% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in shares of AbbVie by 5.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 122,024 shares of the company’s stock worth $8,847,000 after acquiring an additional 6,417 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of AbbVie by 5.1% during the 2nd quarter. Private Advisor Group LLC now owns 163,596 shares of the company’s stock worth $11,752,000 after acquiring an additional 7,920 shares in the last quarter. AGF Investments Inc. boosted its stake in shares of AbbVie by 1.8% during the 2nd quarter. AGF Investments Inc. now owns 1,382,587 shares of the company’s stock worth $100,291,000 after acquiring an additional 24,567 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of AbbVie by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 77,293 shares of the company’s stock worth $5,605,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of AbbVie by 2.5% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 108,303 shares of the company’s stock worth $7,853,000 after acquiring an additional 2,617 shares in the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.

ABBV has been the topic of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Societe Generale upped their price target on shares of AbbVie in a report on Tuesday, November 21st. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, January 11th. Jefferies Group upped their price target on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $102.57.

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About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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