Tipp Hill Capital Management adds AbbVie Inc (ABBV) to its portfolio

AbbVie Inc (ABBV) : Tipp Hill Capital Management added new position in AbbVie Inc during the most recent quarter end. The investment management firm now holds 138,000 shares of AbbVie Inc which is valued at $8,475,960 , the company said in a statement filed on Apr 19, 2016 with the SEC.AbbVie Inc makes up approximately 8.34% of Tipp Hill Capital Management’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 , Culbertson A N Co Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 317 additional shares and now holds a total of 82,517 shares of AbbVie Inc which is valued at $4,910,587. AbbVie Inc makes up approx 1.88% of Culbertson A N Co Inc’s portfolio.Heritage Investors Management Corp boosted its stake in ABBV in the latest quarter, The investment management firm added 9,898 additional shares and now holds a total of 105,944 shares of AbbVie Inc which is valued at $6,304,727. AbbVie Inc makes up approx 0.48% of Heritage Investors Management Corp’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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