Fort Pitt Capital Group buys $1,664,716 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Fort Pitt Capital Group scooped up 3,300 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 25,007 shares of AbbVie Inc which is valued at $1,664,716.AbbVie Inc makes up approximately 0.20% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Greatmark Investment Partners boosted its stake in ABBV in the latest quarter, The investment management firm added 3,610 additional shares and now holds a total of 33,601 shares of AbbVie Inc which is valued at $2,225,394. AbbVie Inc makes up approx 0.96% of Greatmark Investment Partners’s portfolio. Capital Fund Management S.a. sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 808,764 shares of ABBV which is valued $52,488,784.Agran Libbie boosted its stake in ABBV in the latest quarter, The investment management firm added 525 additional shares and now holds a total of 47,133 shares of AbbVie Inc which is valued at $3,058,932. AbbVie Inc makes up approx 0.74% of Agran Libbie’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in ABBV in the latest quarter, The investment management firm added 26,357 additional shares and now holds a total of 418,654 shares of AbbVie Inc which is valued at $26,860,841. AbbVie Inc makes up approx 0.56% of Exxonmobil Investment Management Inc Tx’s portfolio.

AbbVie Inc closed down -0.47 points or -0.71% at $66.1 with 49,01,851 shares getting traded on Thursday. Post opening the session at $66.58, the shares hit an intraday low of $66.08 and an intraday high of $66.98 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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