Beacon Financial Group buys $738,708 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Beacon Financial Group scooped up 1,856 additional shares in AbbVie Inc during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 12,865 shares of AbbVie Inc which is valued at $738,708.AbbVie Inc makes up approximately 0.16% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group reduced its stake in ABBV by selling 598 shares or 7.03% in the most recent quarter. The Hedge Fund company now holds 7,910 shares of ABBV which is valued at $454,192. AbbVie Inc makes up approx 0.23% of Renaissance Investment Group’s portfolio.

On the company’s financial health, AbbVie Inc reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 29, 2016. Analyst had a consensus of $1.12. The company had revenue of $6400.00 million for the quarter, compared to analysts expectations of $6382.82 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

Investors should note that on Feb 18, 2016, AbbVie Inc announced a cash dividend of $0.5700. The company’s management has announced Apr 13, 2016 as the ex-dividend date and fixed the record date on Apr 15, 2016. The payable date has been fixed on May 16, 2016.

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 opened for trading at $58.59 and hit $59.25 on the upside on Monday, eventually ending the session at $58.5, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 48,93,954 shares. Company has a market cap of $94,257 M.

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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