Financial Architects Inc buys $2,771,648 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Financial Architects Inc scooped up 10,595 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 44,704 shares of AbbVie Inc which is valued at $2,771,648.AbbVie Inc makes up approximately 1.00% of Financial Architects Inc’s portfolio.

Other Hedge Funds, Including , Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in ABBV in the latest quarter, The investment management firm added 12,760 additional shares and now holds a total of 119,567 shares of AbbVie Inc which is valued at $7,413,154. AbbVie Inc makes up approx 0.16% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Parsec Financial Management boosted its stake in ABBV in the latest quarter, The investment management firm added 767 additional shares and now holds a total of 6,893 shares of AbbVie Inc which is valued at $420,473. AbbVie Inc makes up approx 0.04% of Parsec Financial Management’s portfolio.Palladium Partners boosted its stake in ABBV in the latest quarter, The investment management firm added 1,455 additional shares and now holds a total of 55,553 shares of AbbVie Inc which is valued at $3,388,733. AbbVie Inc makes up approx 0.31% of Palladium Partners’s portfolio.Baring Asset Management Ltd reduced its stake in ABBV by selling 14,743 shares or 10.99% in the most recent quarter. The Hedge Fund company now holds 119,373 shares of ABBV which is valued at $7,281,753. AbbVie Inc makes up approx 0.60% of Baring Asset Management Ltd’s portfolio.

AbbVie Inc closed down -0.49 points or -0.78% at $62 with 73,39,589 shares getting traded on Friday. Post opening the session at $62.15, the shares hit an intraday low of $61.8215 and an intraday high of $62.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, AbbVie Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.14. The company had revenue of $5958.00 million for the quarter, compared to analysts expectations of $5978.41 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on AbbVie Inc. Societe Generale Initiated AbbVie Inc on Apr 6, 2016 to “Sell”, Price Target of the shares are set at $47.Deutsche Bank Initiated AbbVie Inc on Mar 15, 2016 to “Hold”, Price Target of the shares are set at $63.AbbVie Inc was Upgraded by Citigroup to ” Buy” on Feb 23, 2016.

AbbVie Inc. (AbbVie) is a global research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions such as chronic autoimmune diseases including rheumatoid arthritis psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis and other health conditions such as low testosterone. AbbVie also has a pipeline of new medicines including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties such as immunology virology/liver disease oncology renal disease neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA HCV products Additional Virology products Metabolics/Hormones products Endocrinology products and other products.

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