Allianz Asset Management Ag buys $805.9 Million stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Allianz Asset Management Ag scooped up 35,328 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 12,998,672 shares of AbbVie Inc which is valued at $805.9 Million.AbbVie Inc makes up approximately 1.13% of Allianz Asset Management Ag’s portfolio.

Other Hedge Funds, Including , Zwj Investment Counsel Inc reduced its stake in ABBV by selling 75 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 34,194 shares of ABBV which is valued at $2.1 Million. AbbVie Inc makes up approx 0.23% of Zwj Investment Counsel Inc’s portfolio.Todd Asset Management reduced its stake in ABBV by selling 1,967 shares or 11.71% in the most recent quarter. The Hedge Fund company now holds 14,827 shares of ABBV which is valued at $919,274. AbbVie Inc makes up approx 0.03% of Todd Asset Management’s portfolio.Us Financial Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 180 additional shares and now holds a total of 280 shares of AbbVie Inc which is valued at $17,503. AbbVie Inc makes up approx 0.03% of Us Financial Advisors’s portfolio. Richard Bernstein Advisors sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 64,999 shares of ABBV which is valued $4.1 Million.Nisa Investment Advisors L.l.c. boosted its stake in ABBV in the latest quarter, The investment management firm added 28,222 additional shares and now holds a total of 531,266 shares of AbbVie Inc which is valued at $32.4 Million. AbbVie Inc makes up approx 0.46% of Nisa Investment Advisors L.l.c.’s portfolio.

AbbVie Inc opened for trading at $61.08 and hit $61.47 on the upside on Wednesday, eventually ending the session at $61.22, with a gain of 0.86% or 0.52 points. The heightened volatility saw the trading volume jump to 58,57,619 shares. Company has a market cap of $99,015 M.

On the company’s financial health, AbbVie Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.14. The company had revenue of $5958.00 million for the quarter, compared to analysts expectations of $5978.41 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 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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