AbbVie (NYSE:ABBV) Updates Q4 2024 Earnings Guidance

AbbVie (NYSE:ABBV) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.940-2.980 for the period, compared to the consensus earnings per share estimate of 2.950. The company issued revenue guidance of $14.8 billion-$14.8 billion, compared to the consensus revenue estimate of $14.6 billion.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Citigroup boosted their price target on AbbVie from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $199.39.

AbbVie Stock Performance

NYSE:ABBV opened at $201.55 on Thursday. The stock’s fifty day moving average is $193.85 and its 200 day moving average is $178.91. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $202.35. The firm has a market capitalization of $355.91 billion, a PE ratio of 59.81, a PEG ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.25%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.