5 Stocks Making Big Moves on Financial Results

4. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 81

Shares of AbbVie Inc. (NYSE:ABBV) hit a new 52-week high of $139.41 on Wednesday, February 2, 2022, after delivering a better-than-expected profit for the fourth quarter. The biopharmaceutical company earned $3.31 per share on an adjusted basis, beating expectations of $3.28 per share.

In addition, AbbVie Inc. (NYSE:ABBV) posted revenue of $14.886 billion, up 7.4 percent on a year-over-year basis. However, it marginally missed analysts’ average estimate of $14.9 billion. Revenue from its flagship medicine Humira rose 3.5 percent versus last year to $5.334 billion.

AbbVie Inc. (NYSE:ABBV) also issued its profit outlook for 2022. The company expects adjusted earnings in the range of $14.00 to $14.20 for the full year.

Discussing the results, CEO Richard Gonzalez said:

“We are entering 2022 with significant momentum and expect our diverse set of growth assets, robust pipeline and excellent execution to deliver continued strong performance this year and over the long term.”