AbbVie (NYSE: ABBV) stock soared to the highest level in the last twelve months amid revenue and earnings beat for the fourth quarter of 2019. The updated guidance for fiscal 2020 added to investor’s sentiments. The company’s revenue growth momentum is backed by the recent launches of Skyrizi and Rinvoq.
The completion of Allergan acquisition is among the contributors to bullish sentiments. The company plans to close the acquisition by the end of the first quarter. AbbVie stock price is currently trading around 52-weeks high of $92, up 35 per cent in the past six months. On the flip side, ABBV offers a quarterly dividend of $1.18 per share, yielding above 5 per cent. It has recently increased the quarterly dividend by 10.3 per cent for fiscal 2020.
Fourth Quarter Beat Helped AbbVie Stock Price to Accelerate Momentum
The company topped fourth-quarter revenue and earnings estimate by $20ml and $0.02 per share. Its fourth-quarter revenue of $8.7bn grew $4.7 per cent from the past year period. Its key products such as Humira generated quarterly revenue of $4,917M while revenue from Imbruvica increased 28.9 per cent from the year-ago period.
“Our strong performance this quarter completes another excellent year for AbbVie,” said Richard A. Gonzalez, chairman, and chief executive officer, AbbVie. “The launches of Skyrizi and Rinvoq are going extremely well, and we are entering 2020 with substantial momentum. We also look forward to completing the planned Allergan acquisition in the first quarter.”
Strong Outlook Backs Cash Returns
AbbVie expects fiscal 2020 revenue to increase by 8 per cent on an operational basis. The earnings per share guidance increased to $9.61 – 9.71 compared to the previous estimate of $9.48. The earnings growth forecast indicates an almost 46% increase compared to the past year period. The company also anticipates similar growth in cash flows for 2020. The market pundits believe free cash flow growth could offer a big room for a dividend increase. Goldman Sachs portfolio of dividend all-stars includes AbbVie for 2020.
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Siraj Sarwar
