Optimum Investment Advisors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Optimum Investment Advisors reduced its stake in AbbVie Inc by 0.14% during the most recent quarter end. The investment management company now holds a total of 51,035 shares of AbbVie Inc which is valued at $3.2 Million after selling 71 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.AbbVie Inc makes up approximately 1.26% of Optimum Investment Advisors’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in ABBV by selling 1,520,644 shares or 23.69% in the most recent quarter. The Hedge Fund company now holds 4,898,364 shares of ABBV which is valued at $303.7 Million. AbbVie Inc makes up approx 0.36% of Ubs Asset Management Americas Inc’s portfolio. Janney Montgomery Scott sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 294,320 shares of ABBV which is valued $18.2 Million.Legacy Capital Partners boosted its stake in ABBV in the latest quarter, The investment management firm added 2,365 additional shares and now holds a total of 37,771 shares of AbbVie Inc which is valued at $2.4 Million. AbbVie Inc makes up approx 1.52% of Legacy Capital Partners’s portfolio. Payden Rygel sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 27,300 shares of ABBV which is valued $1.7 Million.Tiedemann Trust Co boosted its stake in ABBV in the latest quarter, The investment management firm added 1,214 additional shares and now holds a total of 6,540 shares of AbbVie Inc which is valued at $408,815. AbbVie Inc makes up approx 0.07% of Tiedemann Trust Co’s portfolio.

AbbVie Inc opened for trading at $59.63 and hit $60.05 on the upside on Friday, eventually ending the session at $59.69, with a gain of 0.69% or 0.41 points. The heightened volatility saw the trading volume jump to 1,12,59,353 shares. Company has a market cap of $96,540 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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