Puff Wealth Management LLC Purchases Shares of 4,562 AbbVie Inc. (NYSE:ABBV)

Puff Wealth Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,562 shares of the company’s stock, valued at approximately $811,000. AbbVie makes up approximately 1.3% of Puff Wealth Management LLC’s holdings, making the stock its 23rd biggest position.

A number of other large investors have also recently made changes to their positions in ABBV. Roxbury Financial LLC purchased a new stake in AbbVie during the 4th quarter worth about $496,000. Scarborough Advisors LLC lifted its stake in AbbVie by 41.8% during the fourth quarter. Scarborough Advisors LLC now owns 1,570 shares of the company’s stock worth $279,000 after purchasing an additional 463 shares during the last quarter. BXM Wealth LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $609,000. Spinnaker Trust increased its stake in AbbVie by 8.2% in the fourth quarter. Spinnaker Trust now owns 16,784 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,275 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in AbbVie by 0.4% during the fourth quarter. WASHINGTON TRUST Co now owns 30,143 shares of the company’s stock worth $5,356,000 after purchasing an additional 127 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $193.00 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a 50-day moving average price of $178.93 and a 200 day moving average price of $186.04. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a market cap of $341.05 billion, a P/E ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the company earned $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.40%. AbbVie’s dividend payout ratio is presently 273.33%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ABBV shares. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Profile

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.