Charter Trust Co buys $9,960,542 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Charter Trust Co scooped up 827 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 165,540 shares of AbbVie Inc which is valued at $9,960,542.AbbVie Inc makes up approximately 1.15% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , Ct Financial Advisors reduced its stake in ABBV by selling 53 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 10,731 shares of ABBV which is valued at $669,507. AbbVie Inc makes up approx 0.42% of Ct Financial Advisors’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in ABBV by selling 52,866 shares or 24.18% in the most recent quarter. The Hedge Fund company now holds 165,755 shares of ABBV which is valued at $10,493,949. AbbVie Inc makes up approx 0.23% of Oregon Public Employees Retirement Fund’s portfolio.Private Asset Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 14,236 shares of AbbVie Inc which is valued at $902,420. AbbVie Inc makes up approx 0.15% of Private Asset Management Inc’s portfolio. Harbour Capital Advisors sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 6,447 shares of ABBV which is valued $408,675.

AbbVie Inc closed down -0.98 points or -1.60% at $60.17 with 56,06,474 shares getting traded on Friday. Post opening the session at $61.45, the shares hit an intraday low of $60.15 and an intraday high of $61.515 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 $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.20. The company had revenue of $6452.00 million for the quarter, compared to analysts expectations of $6207.43 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on AbbVie Inc. AbbVie Inc was Downgraded by JP Morgan to ” Neutral” on Sep 8, 2016. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.

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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