Cambiar Investors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Cambiar Investors reduced its stake in AbbVie Inc by 10.57% during the most recent quarter end. The investment management company now holds a total of 1,655,935 shares of AbbVie Inc which is valued at $103,512,497 after selling 195,660 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on May 2, 2016.AbbVie Inc makes up approximately 1.50% of Cambiar Investors’s portfolio.

AbbVie Inc opened for trading at $62 and hit $62.745 on the upside on Friday, eventually ending the session at $62.51, with a gain of 0.27% or 0.17 points. The heightened volatility saw the trading volume jump to 1,08,80,707 shares. Company has a market cap of $100,718 M.

Other Hedge Funds, Including , Compton Capital Management Inc Ri reduced its stake in ABBV by selling 350 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 29,440 shares of ABBV which is valued at $1,840,294. AbbVie Inc makes up approx 1.05% of Compton Capital Management Inc Ri’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in ABBV by selling 200,000 shares or 8.56% in the most recent quarter. The Hedge Fund company now holds 2,136,000 shares of ABBV which is valued at $130,296,000. AbbVie Inc makes up approx 0.58% of State Of New Jersey Common Pension Fund D’s portfolio.Boys Arnold Co Inc reduced its stake in ABBV by selling 27,588 shares or 84.11% in the most recent quarter. The Hedge Fund company now holds 5,210 shares of ABBV which is valued at $317,810. AbbVie Inc makes up approx 0.13% of Boys Arnold Co Inc’s portfolio.Boston Family Office boosted its stake in ABBV in the latest quarter, The investment management firm added 1,757 additional shares and now holds a total of 92,578 shares of AbbVie Inc which is valued at $5,647,258. AbbVie Inc makes up approx 0.74% of Boston Family Office’s portfolio.Aull Monroe Investment Management Corp reduced its stake in ABBV by selling 900 shares or 2.84% in the most recent quarter. The Hedge Fund company now holds 30,790 shares of ABBV which is valued at $1,891,122. AbbVie Inc makes up approx 1.11% of Aull Monroe Investment Management Corp’s portfolio.

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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