Puff Wealth Management LLC Invests $953,000 in AbbVie Inc. $ABBV

Puff Wealth Management LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,787 shares of the company’s stock, valued at approximately $953,000.

A number of other hedge funds have also recently modified their holdings of the company. Community Trust & Investment Co. increased its position in AbbVie by 1.7% during the second quarter. Community Trust & Investment Co. now owns 20,442 shares of the company’s stock worth $5,144,000 after purchasing an additional 337 shares during the last quarter. Wynn Capital LLC boosted its holdings in AbbVie by 0.8% in the 2nd quarter. Wynn Capital LLC now owns 9,388 shares of the company’s stock valued at $2,362,000 after purchasing an additional 70 shares during the last quarter. Cooper Financial Group grew its stake in shares of AbbVie by 21.7% in the 2nd quarter. Cooper Financial Group now owns 11,460 shares of the company’s stock valued at $2,884,000 after buying an additional 2,042 shares during the period. Attessa Capital LLC grew its stake in shares of AbbVie by 36.8% in the 2nd quarter. Attessa Capital LLC now owns 3,438 shares of the company’s stock valued at $865,000 after buying an additional 924 shares during the period. Finally, Elmwood Wealth Management Inc. increased its holdings in shares of AbbVie by 5.0% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 2,376 shares of the company’s stock worth $598,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $245.82 on Friday. The firm has a market cap of $434.31 billion, a P/E ratio of 69.44, a P/E/G ratio of 0.81 and a beta of 0.30. The firm’s 50 day moving average price is $241.96 and its 200-day moving average price is $224.96. AbbVie Inc. has a one year low of $190.75 and a one year high of $267.47.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. The firm had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts predict that AbbVie Inc. will post 14.06 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s payout ratio is presently 195.48%.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $298.00 price target on shares of AbbVie in a research report on Tuesday, June 23rd. Bank of America increased their price objective on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their target price on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Barclays upped their price target on AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.70.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.