Jacobus Wealth Management buys $3.9 Million stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Jacobus Wealth Management scooped up 20 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 23, 2016. The investment management firm now holds a total of 62,264 shares of AbbVie Inc which is valued at $3.9 Million.AbbVie Inc makes up approximately 1.10% of Jacobus Wealth Management’s portfolio.

Other Hedge Funds, Including , Osterweis Capital Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 1,165 additional shares and now holds a total of 4,790 shares of AbbVie Inc which is valued at $285,915. AbbVie Inc makes up approx 0.02% of Osterweis Capital Management Inc’s portfolio. Rotella Capital Management sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 7,604 shares of ABBV which is valued $471,448.Wharton Business Group boosted its stake in ABBV in the latest quarter, The investment management firm added 770 additional shares and now holds a total of 55,534 shares of AbbVie Inc which is valued at $3.4 Million. AbbVie Inc makes up approx 0.39% of Wharton Business Group’s portfolio.Nwq Investment Management Company boosted its stake in ABBV in the latest quarter, The investment management firm added 27,437 additional shares and now holds a total of 781,850 shares of AbbVie Inc which is valued at $48.5 Million. AbbVie Inc makes up approx 0.77% of Nwq Investment Management Company’s portfolio. Huntington Asset Advisors sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 23,311 shares of ABBV which is valued $1.4 Million.

AbbVie Inc opened for trading at $61.99 and hit $63.2 on the upside on Friday, eventually ending the session at $62.71, with a gain of 1.31% or 0.81 points. The heightened volatility saw the trading volume jump to 57,68,006 shares. Company has a market cap of $101,425 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. (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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