Cornerstone Financial Partners buys $4,024,689 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Cornerstone Financial Partners scooped up 5,693 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 60,458 shares of AbbVie Inc which is valued at $4,024,689.AbbVie Inc makes up approximately 1.40% of Cornerstone Financial Partners’s portfolio.

Other Hedge Funds, Including , Appleton Partners Incma reduced its stake in ABBV by selling 3,503 shares or 3.36% in the most recent quarter. The Hedge Fund company now holds 100,687 shares of ABBV which is valued at $6,702,734. AbbVie Inc makes up approx 1.33% of Appleton Partners Incma’s portfolio.Savant Capital boosted its stake in ABBV in the latest quarter, The investment management firm added 2,857 additional shares and now holds a total of 63,805 shares of AbbVie Inc which is valued at $4,225,805. AbbVie Inc makes up approx 1.16% of Savant Capital’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.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.

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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