Summit Financial Wealth Advisors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Summit Financial Wealth Advisors reduced its stake in AbbVie Inc by 5.45% during the most recent quarter end. The investment management company now holds a total of 53,439 shares of AbbVie Inc which is valued at $3,428,646 after selling 3,082 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.AbbVie Inc makes up approximately 1.42% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Integrated Investment Consultants boosted its stake in ABBV in the latest quarter, The investment management firm added 2,612 additional shares and now holds a total of 12,734 shares of AbbVie Inc which is valued at $788,489. AbbVie Inc makes up approx 0.41% of Integrated Investment Consultants’s portfolio.First Financial Bank N.a. – Trust Division reduced its stake in ABBV by selling 5,967 shares or 47.26% in the most recent quarter. The Hedge Fund company now holds 6,658 shares of ABBV which is valued at $412,263. AbbVie Inc makes up approx 0.08% of First Financial Bank N.a. – Trust Division’s portfolio.Toth Financial Advisory Corp boosted its stake in ABBV in the latest quarter, The investment management firm added 10,137 additional shares and now holds a total of 34,583 shares of AbbVie Inc which is valued at $2,168,700. AbbVie Inc makes up approx 0.66% of Toth Financial Advisory Corp’s portfolio.

AbbVie Inc opened for trading at $64.25 and hit $64.985 on the upside on Monday, eventually ending the session at $64.35, with a gain of 0.30% or 0.19 points. The heightened volatility saw the trading volume jump to 96,41,532 shares. Company has a market cap of $104,077 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.

Investors should note that on Jun 16, 2016, AbbVie Inc announced a cash dividend of $0.5700. The company’s management has announced Jul 13, 2016 as the ex-dividend date and fixed the record date on Jul 15, 2016. The payable date has been fixed on Aug 15, 2016.

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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