W.g. Shaheen Associates Dba Whitney Co buys $6,541,994 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : W.g. Shaheen Associates Dba Whitney Co scooped up 1,780 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 109,931 shares of AbbVie Inc which is valued at $6,541,994.AbbVie Inc makes up approximately 2.78% of W.g. Shaheen Associates Dba Whitney Co’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 , Starfire Investment Advisers boosted its stake in ABBV in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 4,151 shares of AbbVie Inc which is valued at $247,026. AbbVie Inc makes up approx 0.16% of Starfire Investment Advisers’s portfolio.Stonebridge Capital Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 17,733 shares of AbbVie Inc which is valued at $1,055,291. AbbVie Inc makes up approx 0.45% of Stonebridge Capital Management Inc’s portfolio.Webster Bank N. A. reduced its stake in ABBV by selling 1,303 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 12,840 shares of ABBV which is valued at $764,108. AbbVie Inc makes up approx 0.12% of Webster Bank N. A.’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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