AbbVie Inc (ABBV) : Conning reduced its stake in AbbVie Inc by 8.16% during the most recent quarter end. The investment management company now holds a total of 475,778 shares of AbbVie Inc which is valued at $30,877,992 after selling 42,270 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.AbbVie Inc makes up approximately 1.28% of Conning’s portfolio.
Other Hedge Funds, Including , Kwmg added ABBV to its portfolio by purchasing 13,244 company shares during the most recent quarter which is valued at $845,100. AbbVie Inc makes up approx 0.45% of Kwmg’s portfolio.Beech Hill Advisors reduced its stake in ABBV by selling 2,060 shares or 2.92% in the most recent quarter. The Hedge Fund company now holds 68,577 shares of ABBV which is valued at $4,348,468. AbbVie Inc makes up approx 2.83% of Beech Hill Advisors’s portfolio.Barrett Asset Management boosted its stake in ABBV in the latest quarter, The investment management firm added 850 additional shares and now holds a total of 356,821 shares of AbbVie Inc which is valued at $22,626,020. AbbVie Inc makes up approx 1.89% of Barrett Asset Management’s portfolio.Breton Hill Capital Ltd. boosted its stake in ABBV in the latest quarter, The investment management firm added 18,058 additional shares and now holds a total of 130,785 shares of AbbVie Inc which is valued at $8,470,944. AbbVie Inc makes up approx 2.64% of Breton Hill Capital Ltd.’s portfolio.
AbbVie Inc opened for trading at $65.27 and hit $66.4 on the upside on Friday, eventually ending the session at $66.23, with a gain of 2.33% or 1.51 points. The heightened volatility saw the trading volume jump to 1,05,25,016 shares. Company has a market cap of $107,118 M.
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.