AbbVie Inc (ABBV) : Ngam Advisors reduced its stake in AbbVie Inc by 7.06% during the most recent quarter end. The investment management company now holds a total of 306,749 shares of AbbVie Inc which is valued at $20,420,281 after selling 23,297 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.AbbVie Inc makes up approximately 0.27% of Ngam Advisors’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.Wendell David Associates Inc reduced its stake in ABBV by selling 9,034 shares or 6.14% in the most recent quarter. The Hedge Fund company now holds 138,163 shares of ABBV which is valued at $8,760,916. AbbVie Inc makes up approx 1.68% of Wendell David Associates Inc’s portfolio.Ronna Sue Cohen boosted its stake in ABBV in the latest quarter, The investment management firm added 139 additional shares and now holds a total of 27,540 shares of AbbVie Inc which is valued at $1,783,766. AbbVie Inc makes up approx 1.30% of Ronna Sue Cohen’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.