Concannon Wealth Management adds AbbVie Inc (ABBV) to its portfolio

AbbVie Inc (ABBV) : Concannon Wealth Management added new position in AbbVie Inc during the most recent quarter end. The investment management firm now holds 125 shares of AbbVie Inc which is valued at $8,321 , the company said in a statement filed on Aug 2, 2016 with the SEC.AbbVie Inc makes up approximately 0.01% of Concannon Wealth Management’s portfolio.

Other Hedge Funds, Including , Montag A Associates Inc reduced its stake in ABBV by selling 595 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 70,591 shares of ABBV which is valued at $4,699,243. AbbVie Inc makes up approx 0.60% of Montag A Associates Inc’s portfolio.Hochman Cole Investment Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 39,809 shares of AbbVie Inc which is valued at $2,524,289. AbbVie Inc makes up approx 2.00% of Hochman Cole Investment Advisors’s portfolio.Handelsbanken Fonder Ab reduced its stake in ABBV by selling 23,500 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 687,112 shares of ABBV which is valued at $43,672,839. AbbVie Inc makes up approx 1.73% of Handelsbanken Fonder Ab’s portfolio.Gillespie Robinson Grimm Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 7,786 shares of AbbVie Inc which is valued at $504,299. AbbVie Inc makes up approx 0.08% of Gillespie Robinson Grimm Inc’s portfolio.Gateway Investment Advisers reduced its stake in ABBV by selling 15,076 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 1,058,503 shares of ABBV which is valued at $68,559,239. AbbVie Inc makes up approx 0.57% of Gateway Investment Advisers’s portfolio.

AbbVie Inc closed down -0.2 points or -0.30% at $66.34 with 53,09,293 shares getting traded on Monday. Post opening the session at $66.38, the shares hit an intraday low of $65.75 and an intraday high of $66.67 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, AbbVie Inc reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.20. The company had revenue of $6452.00 million for the quarter, compared to analysts expectations of $6207.43 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 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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