Schmidt P J Investment Management Inc buys $6,035,215 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Schmidt P J Investment Management Inc scooped up 521 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 90,974 shares of AbbVie Inc which is valued at $6,035,215.AbbVie Inc makes up approximately 2.21% of Schmidt P J Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Atlanta Capital Group boosted its stake in ABBV in the latest quarter, The investment management firm added 706 additional shares and now holds a total of 44,641 shares of AbbVie Inc which is valued at $2,961,484. AbbVie Inc makes up approx 0.63% of Atlanta Capital Group’s portfolio.First Niagara Bank reduced its stake in ABBV by selling 742 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 53,752 shares of ABBV which is valued at $3,488,505. AbbVie Inc makes up approx 0.97% of First Niagara Bank’s portfolio.

AbbVie Inc opened for trading at $66.69 and hit $67.35 on the upside on Wednesday, eventually ending the session at $66.83, with a gain of 0.13% or 0.09 points. The heightened volatility saw the trading volume jump to 79,45,418 shares. Company has a market cap of $108,835 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.

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