First American Bank Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : First American Bank reduced its stake in AbbVie Inc by 11.04% during the most recent quarter end. The investment management company now holds a total of 202,885 shares of AbbVie Inc which is valued at $12,946,092 after selling 25,180 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.AbbVie Inc makes up approximately 1.27% of First American Bank’s portfolio.

Other Hedge Funds, Including , Capital Investment Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 9,074 additional shares and now holds a total of 25,914 shares of AbbVie Inc which is valued at $1,653,572. AbbVie Inc makes up approx 0.15% of Capital Investment Advisors’s portfolio.Berkshire Asset Managementpa reduced its stake in ABBV by selling 11,856 shares or 4.39% in the most recent quarter. The Hedge Fund company now holds 258,462 shares of ABBV which is valued at $16,389,075. AbbVie Inc makes up approx 2.42% of Berkshire Asset Managementpa’s portfolio.Trust Co Of Virginia Va reduced its stake in ABBV by selling 250 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 18,146 shares of ABBV which is valued at $1,153,360. AbbVie Inc makes up approx 0.20% of Trust Co Of Virginia Va’s portfolio.Naples Global Advisors reduced its stake in ABBV by selling 439 shares or 1.53% in the most recent quarter. The Hedge Fund company now holds 28,167 shares of ABBV which is valued at $1,824,377. AbbVie Inc makes up approx 0.73% of Naples Global Advisors’s portfolio.

AbbVie Inc opened for trading at $63.57 and hit $63.9 on the upside on Wednesday, eventually ending the session at $63.41, with a gain of 0.14% or 0.09 points. The heightened volatility saw the trading volume jump to 75,02,821 shares. Company has a market cap of $102,557 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. AbbVie Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 8, 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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