AbbVie (NYSE:ABBV) Releases FY19 Earnings Guidance
AbbVie (NYSE:ABBV) updated its FY19 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.82-8.92 for the period, compared to the Thomson Reuters consensus estimate of $8.78. AbbVie also updated its FY 2019 guidance to $8.82-8.92 EPS.
A number of brokerages have recently issued reports on ABBV. Credit Suisse Group set a $123.00 target price on shares of Hershey and gave the company a hold rating in a research note on Friday, April 26th. Citigroup restated a hold rating on shares of AbbVie in a research note on Wednesday, June 26th. Piper Jaffray Companies set a $265.00 target price on shares of SVB Financial Group and gave the company a buy rating in a research note on Friday. Leerink Swann upgraded shares of AbbVie to a buy rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets upgraded shares of AbbVie from an underperform rating to a market perform rating and upped their target price for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $92.05.
Shares of NYSE:ABBV traded down $0.36 during trading on Monday, reaching $67.41. 2,026,853 shares of the company’s stock traded hands, compared to its average volume of 10,793,975. AbbVie has a 12 month low of $65.06 and a 12 month high of $100.23. The company’s 50 day moving average is $73.24. The stock has a market cap of $100.17 billion, a PE ratio of 8.52, a P/E/G ratio of 1.37 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 annualized dividend and a dividend yield of 6.35%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In other AbbVie news, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction dated Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the acquisition, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William J. Chase acquired 30,400 shares of AbbVie stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the acquisition, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. 0.08% of the stock is owned by corporate insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
Further Reading: Cost of Equity For A Business, Investors
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