<div id="readability-page-1"><p>AbbVie (NYSE:ABBV - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.530-2.570 for the period, compared to the consensus earnings per share estimate of 3.050. The company issued revenue guidance of -. AbbVie also updated its FY 2024 guidance to 10.610-10.810 EPS.</p><h2>AbbVie Trading Up 1.3 %</h2><ul><li>AbbVie Stock: A Perfect Dip for Investors to Buy</li></ul><p>AbbVie stock traded up $2.16 during midday trading on Friday, reaching $166.00. The stock had a trading volume of 993,954 shares, compared to its average volume of 5,621,344. The firm's fifty day simple moving average is $164.43 and its two-hundred day simple moving average is $167.77. The firm has a market cap of $293.13 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.10 and a beta of 0.64. AbbVie has a twelve month low of $132.70 and a twelve month high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. </p><p>AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business's revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. Equities analysts anticipate that AbbVie will post 11.27 EPS for the current fiscal year. </p><h2>AbbVie Dividend Announcement</h2><ul><li>Investing in Biotech: High Risk for a Potentially High Reward</li></ul><p>The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.73%. AbbVie's payout ratio is 183.98%. </p><h2>Analyst Upgrades and Downgrades</h2><p>Several equities research analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an outperform rating for the company in a research note on Monday, April 29th. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an overweight rating for the company in a research report on Monday, April 29th. Piper Sandler Companies reissued an overweight rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Cantor Fitzgerald reissued an overweight rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Finally, Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a buy rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of Moderate Buy and an average price target of $181.07.</p><br/><ul><li>2 Generic Drug Makers With Growing Runways</li></ul><p><b>Read Our Latest Stock Analysis on ABBV</b></p><h2>About AbbVie</h2> (Get Free Report)<p>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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than AbbVie</li><li>How to Invest in Insurance Companies: A Guide </li><li>Constellation Brands Stock Q1 2025: Crushing Anheuser-Busch?</li><li>How to Invest in the FAANG Stocks</li><li>Qualcomm Stock Continues to Rise in the Face of Negative News</li><li>Why Are Stock Sectors Important to Successful Investing?</li><li>Top 3 Summer Stocks with Solid Growth Opportunities</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/EarningsEstimatesChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUFCQlY?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="325" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/EarningsEstimatesChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUFCQlY"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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ABBV

<p>AbbVie updated its Q2 2024 earnings guidance, providing EPS guidance of 2.530-2.570 compared to the consensus estimate of 3.050. The company also updated its FY 2024 guidance to 10.610-10.810 EPS. AbbVie stock traded up 1.3% following the announcement.</p>

AbbVie (NYSE:ABBV) Releases Q2 2024 Earnings Guidance