Swarthmore Group Inc Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Swarthmore Group Inc reduced its stake in AbbVie Inc by 26.37% during the most recent quarter end. The investment management company now holds a total of 448,050 shares of AbbVie Inc which is valued at $26,663,456 after selling 160,500 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.AbbVie Inc makes up approximately 4.02% of Swarthmore Group Inc’s portfolio.

AbbVie Inc opened for trading at $59.5 and hit $60.32 on the upside on Monday, eventually ending the session at $59.88, with a gain of 0.62% or 0.37 points. The heightened volatility saw the trading volume jump to 60,89,417 shares. Company has a market cap of $96,481 M.

Other Hedge Funds, Including , Bath Savings Trust Co reduced its stake in ABBV by selling 3,497 shares or 25.55% in the most recent quarter. The Hedge Fund company now holds 10,189 shares of ABBV which is valued at $606,347. AbbVie Inc makes up approx 0.19% of Bath Savings Trust Co’s portfolio.Blue Bell Private Wealth Management reduced its stake in ABBV by selling 265 shares or 50.96% in the most recent quarter. The Hedge Fund company now holds 255 shares of ABBV which is valued at $15,175. AbbVie Inc makes up approx 0.01% of Blue Bell Private Wealth Management’s portfolio.Jlb Associates Inc reduced its stake in ABBV by selling 273 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 68,395 shares of ABBV which is valued at $4,001,108. AbbVie Inc makes up approx 1.18% of Jlb Associates Inc’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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