Beech Hill Advisors buys $4,338,525 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Beech Hill Advisors scooped up 60 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 70,637 shares of AbbVie Inc which is valued at $4,338,525.AbbVie Inc makes up approximately 3.36% of Beech Hill Advisors’s portfolio.

AbbVie Inc opened for trading at $61.3 and hit $61.99 on the upside on Friday, eventually ending the session at $61.42, with a gain of 0.08% or 0.05 points. The heightened volatility saw the trading volume jump to 51,03,024 shares. Company has a market cap of $98,962 M.

Other Hedge Funds, Including , A. D. Beadell Investment Counsel boosted its stake in ABBV in the latest quarter, The investment management firm added 3,522 additional shares and now holds a total of 38,870 shares of AbbVie Inc which is valued at $2,387,395. AbbVie Inc makes up approx 2.17% of A. D. Beadell Investment Counsel’s portfolio.Horizon Kinetics boosted its stake in ABBV in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 36,154 shares of AbbVie Inc which is valued at $2,151,525. AbbVie Inc makes up approx 0.06% of Horizon Kinetics’s portfolio. Churchill Management Corp added ABBV to its portfolio by purchasing 206,425 company shares during the most recent quarter which is valued at $12,284,352. AbbVie Inc makes up approx 0.86% of Churchill Management Corp’s portfolio.Thompson Rubinstein Investment Management Inc Or boosted its stake in ABBV in the latest quarter, The investment management firm added 25,226 additional shares and now holds a total of 72,240 shares of AbbVie Inc which is valued at $4,226,040. AbbVie Inc makes up approx 1.74% of Thompson Rubinstein Investment Management Inc Or’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.

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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