Canal Insurance Co buys $3,410,000 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Canal Insurance Co scooped up 15,000 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 55,000 shares of AbbVie Inc which is valued at $3,410,000.AbbVie Inc makes up approximately 1.17% of Canal Insurance Co’s portfolio.

Other Hedge Funds, Including , Financial Architects Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 10,595 additional shares and now holds a total of 44,704 shares of AbbVie Inc which is valued at $2,771,648. AbbVie Inc makes up approx 1.00% of Financial Architects Inc’s portfolio.Proshare Advisors reduced its stake in ABBV by selling 56,093 shares or 7.77% in the most recent quarter. The Hedge Fund company now holds 665,963 shares of ABBV which is valued at $41,629,347. AbbVie Inc makes up approx 0.58% of Proshare Advisors’s portfolio.Teachers Advisors Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 62,042 additional shares and now holds a total of 2,731,130 shares of AbbVie Inc which is valued at $170,722,936. AbbVie Inc makes up approx 0.31% of Teachers Advisors Inc’s portfolio.Gerber Kawasaki Wealth Investment Management reduced its stake in ABBV by selling 63 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 12,196 shares of ABBV which is valued at $762,372. AbbVie Inc makes up approx 0.53% of Gerber Kawasaki Wealth Investment Management’s portfolio.Andra Ap-fonden reduced its stake in ABBV by selling 8,500 shares or 8.65% in the most recent quarter. The Hedge Fund company now holds 89,800 shares of ABBV which is valued at $5,613,398. AbbVie Inc makes up approx 0.15% of Andra Ap-fonden’s portfolio.

AbbVie Inc closed down -0.49 points or -0.78% at $62 with 73,39,589 shares getting traded on Friday. Post opening the session at $62.15, the shares hit an intraday low of $61.8215 and an intraday high of $62.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Leave a Reply

AbbVie Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on AbbVie Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.