Dillon Associates Inc buys $8,056,664 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Dillon Associates Inc scooped up 1,528 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 128,886 shares of AbbVie Inc which is valued at $8,056,664.AbbVie Inc makes up approximately 3.78% of Dillon Associates Inc’s portfolio.

Other Hedge Funds, Including , Pillar Pacific Capital Management boosted its stake in ABBV in the latest quarter, The investment management firm added 7,000 additional shares and now holds a total of 11,022 shares of AbbVie Inc which is valued at $688,985. AbbVie Inc makes up approx 0.12% of Pillar Pacific Capital Management’s portfolio.Arcadia Investment Management Corpmi reduced its stake in ABBV by selling 5,171 shares or 6.99% in the most recent quarter. The Hedge Fund company now holds 68,784 shares of ABBV which is valued at $4,195,824. AbbVie Inc makes up approx 1.38% of Arcadia Investment Management Corpmi’s portfolio.Nordea Investment Management Ab boosted its stake in ABBV in the latest quarter, The investment management firm added 292,553 additional shares and now holds a total of 3,388,062 shares of AbbVie Inc which is valued at $206,671,782. AbbVie Inc makes up approx 0.62% of Nordea Investment Management Ab’s portfolio.First Midwest Bank Trust Division boosted its stake in ABBV in the latest quarter, The investment management firm added 4,978 additional shares and now holds a total of 66,453 shares of AbbVie Inc which is valued at $4,053,633. AbbVie Inc makes up approx 0.53% of First Midwest Bank Trust Division’s portfolio.Fort Pitt Capital Group reduced its stake in ABBV by selling 2,968 shares or 12.03% in the most recent quarter. The Hedge Fund company now holds 21,707 shares of ABBV which is valued at $1,333,244. AbbVie Inc makes up approx 0.16% of Fort Pitt Capital Group’s portfolio.

AbbVie Inc opened for trading at $63.51 and hit $63.76 on the upside on Tuesday, eventually ending the session at $63.74, with a gain of 0.06% or 0.04 points. The heightened volatility saw the trading volume jump to 1,21,03,393 shares. Company has a market cap of $103,090 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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