Skybridge Capital Ii adds AbbVie Inc (ABBV) to its portfolio

AbbVie Inc (ABBV) : Skybridge Capital Ii added new position in AbbVie Inc during the most recent quarter end. The investment management firm now holds 215,845 shares of AbbVie Inc which is valued at $14,319,157 , the company said in a statement filed on Aug 9, 2016 with the SEC.AbbVie Inc makes up approximately 3.55% of Skybridge Capital Ii’s portfolio.

Other Hedge Funds, Including , Taylor Cottrill Erickson Associates reduced its stake in ABBV by selling 1,224 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 43,006 shares of ABBV which is valued at $2,879,252. AbbVie Inc makes up approx 0.79% of Taylor Cottrill Erickson Associates’s portfolio. Ipswich Investment Management sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 2,900 shares of ABBV which is valued $193,053.Whittier Trust Co reduced its stake in ABBV by selling 3,940 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 247,059 shares of ABBV which is valued at $16,362,718. AbbVie Inc makes up approx 0.70% of Whittier Trust Co’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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