Tradition Capital Management buys $7,296,937 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Tradition Capital Management scooped up 1,814 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 109,613 shares of AbbVie Inc which is valued at $7,296,937.AbbVie Inc makes up approximately 2.37% of Tradition Capital Management’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in ABBV by selling 78,387 shares or 20.52% in the most recent quarter. The Hedge Fund company now holds 303,702 shares of ABBV which is valued at $20,217,442. AbbVie Inc makes up approx 0.26% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Sigma Planning Corp reduced its stake in ABBV by selling 33,339 shares or 44.5% in the most recent quarter. The Hedge Fund company now holds 41,584 shares of ABBV which is valued at $2,653,475. AbbVie Inc makes up approx 0.34% of Sigma Planning Corp’s portfolio.Ken Stern Associates boosted its stake in ABBV in the latest quarter, The investment management firm added 99 additional shares and now holds a total of 7,316 shares of AbbVie Inc which is valued at $466,834. AbbVie Inc makes up approx 0.35% of Ken Stern Associates’s portfolio.Cribstone Capital Management reduced its stake in ABBV by selling 691 shares or 15.42% in the most recent quarter. The Hedge Fund company now holds 3,790 shares of ABBV which is valued at $240,324. AbbVie Inc makes up approx 0.15% of Cribstone Capital Management’s portfolio.Crestpoint Capital Management reduced its stake in ABBV by selling 700 shares or 9.59% in the most recent quarter. The Hedge Fund company now holds 6,600 shares of ABBV which is valued at $419,496. AbbVie Inc makes up approx 0.22% of Crestpoint Capital Management’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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