AbbVie Inc (NYSE:ABBV) – Analysts at Jefferies Group dropped their FY2018 earnings estimates for AbbVie in a report issued on Thursday, according to Zacks Investment Research. Jefferies Group analyst J. Holford now expects that the company will earn $6.58 per share for the year, down from their prior forecast of $6.61. Jefferies Group has a “Buy” rating and a $120.00 price target on the stock. Jefferies Group also issued estimates for AbbVie’s FY2019 earnings at $8.18 EPS, FY2020 earnings at $9.29 EPS, FY2021 earnings at $10.40 EPS and FY2022 earnings at $11.94 EPS.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS.

ABBV has been the subject of several other research reports. BMO Capital Markets downgraded AbbVie from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $125.86 to $59.27 in a research note on Monday. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Thursday, January 18th. Evercore ISI reissued a “buy” rating and issued a $144.00 target price on shares of AbbVie in a research note on Monday. Finally, Piper Jaffray Companies boosted their target price on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $111.27.

AbbVie (NYSE:ABBV) opened at $122.31 on Friday. The stock has a market capitalization of $194,970.00, a price-to-earnings ratio of 29.69, a PEG ratio of 1.28 and a beta of 1.53. 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 one year low of $59.27 and a one year high of $125.86.

In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock valued at $45,580,873 in the last 90 days. 0.23% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. IFG Advisory LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $3,557,000. Capital Advisors Inc. OK grew its holdings in shares of AbbVie by 5.0% during the 4th quarter. Capital Advisors Inc. OK now owns 29,295 shares of the company’s stock worth $2,833,000 after purchasing an additional 1,392 shares during the period. Morse Asset Management Inc grew its holdings in shares of AbbVie by 1.7% during the 4th quarter. Morse Asset Management Inc now owns 62,545 shares of the company’s stock worth $6,049,000 after purchasing an additional 1,035 shares during the period. BTIM Corp. grew its holdings in shares of AbbVie by 2.9% during the 4th quarter. BTIM Corp. now owns 26,712 shares of the company’s stock worth $2,583,000 after purchasing an additional 750 shares during the period. Finally, Stewart & Patten Co. LLC grew its holdings in shares of AbbVie by 3.2% during the 4th quarter. Stewart & Patten Co. LLC now owns 16,054 shares of the company’s stock worth $1,552,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 69.28% of the company’s stock.

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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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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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