Stokes Hubbell Capital Management Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Stokes Hubbell Capital Management reduced its stake in AbbVie Inc by 0.26% during the most recent quarter end. The investment management company now holds a total of 34,761 shares of AbbVie Inc which is valued at $2,230,266 after selling 92 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.AbbVie Inc makes up approximately 0.95% of Stokes Hubbell Capital Management’s portfolio.

Other Hedge Funds, Including , Perkins Coie Trust Co boosted its stake in ABBV in the latest quarter, The investment management firm added 673 additional shares and now holds a total of 21,967 shares of AbbVie Inc which is valued at $1,409,403. AbbVie Inc makes up approx 0.92% of Perkins Coie Trust Co’s portfolio.Patten Patten Inctn reduced its stake in ABBV by selling 6,825 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 230,937 shares of ABBV which is valued at $14,816,918. AbbVie Inc makes up approx 2.03% of Patten Patten Inctn’s portfolio.Marshwinds Advisory Co boosted its stake in ABBV in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 26,086 shares of AbbVie Inc which is valued at $1,673,678. AbbVie Inc makes up approx 0.81% of Marshwinds Advisory Co’s portfolio.Cullinan Associates Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 13,750 additional shares and now holds a total of 112,500 shares of AbbVie Inc which is valued at $7,054,875. AbbVie Inc makes up approx 0.57% of Cullinan Associates Inc’s portfolio.

AbbVie Inc closed down -0.16 points or -0.25% at $64.77 with 76,84,239 shares getting traded on Wednesday. Post opening the session at $64.81, the shares hit an intraday low of $64.25 and an intraday high of $65.04 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. AbbVie Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 8, 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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