Purus Wealth Management LLC Makes New Investment in AbbVie Inc. $ABBV

Purus Wealth Management LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, Holdings Channel reports. The firm bought 1,152 shares of the company’s stock, valued at approximately $214,000.

A number of other large investors have also recently made changes to their positions in the stock. Conning Inc. lifted its holdings in shares of AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after buying an additional 12,690 shares during the period. Dohj LLC increased its position in AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after acquiring an additional 1,335 shares during the last quarter. First Hawaiian Bank increased its position in AbbVie by 0.8% during the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after acquiring an additional 60 shares during the last quarter. BankPlus Trust Department lifted its holdings in AbbVie by 3.3% in the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after acquiring an additional 855 shares during the period. Finally, North Star Asset Management Inc. boosted its position in AbbVie by 0.5% in the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock worth $33,800,000 after purchasing an additional 756 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Citigroup dropped their price target on shares of AbbVie from $240.00 to $235.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company boosted their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.14.

AbbVie Stock Up 0.7%

ABBV opened at $234.01 on Tuesday. The company has a market capitalization of $413.59 billion, a PE ratio of 111.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The firm has a 50-day simple moving average of $225.37 and a two-hundred day simple moving average of $204.32. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be given a $1.73 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio (DPR) is presently 524.24%.

About AbbVie

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.