AbbVie (NYSE:ABBV – Get Free Report) released its earnings results on Friday. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.11, Briefing.com reports. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. AbbVie updated its FY24 guidance to $11.13-$11.33 EPS.
AbbVie Stock Performance
Shares of AbbVie stock traded down $8.20 during trading on Friday, hitting $159.09. 5,026,814 shares of the stock were exchanged, compared to its average volume of 5,586,204. The stock has a market capitalization of $281.69 billion, a price-to-earnings ratio of 58.94, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company has a fifty day moving average price of $174.94 and a 200-day moving average price of $160.67. AbbVie has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.90%. AbbVie’s dividend payout ratio is presently 227.11%.
Analysts Set New Price Targets
View Our Latest Report on AbbVie
Insider Activity at AbbVie
In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.
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.
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