Inlight Wealth Management LLC Invests $42,000 in AbbVie Inc. (NYSE:ABBV)

Inlight Wealth Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 1st quarter, Holdings Channel reports. The fund acquired 200 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds have also made changes to their positions in the business. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Bank of America upped their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 0.2%

NYSE:ABBV opened at $185.16 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The business’s 50-day simple moving average is $185.19 and its 200 day simple moving average is $187.70. The stock has a market cap of $327.06 billion, a price-to-earnings ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.54%. AbbVie’s payout ratio is currently 279.15%.

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.