Northern Oak Wealth Management Inc buys $7,843,425 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Northern Oak Wealth Management Inc scooped up 10,282 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 116,735 shares of AbbVie Inc which is valued at $7,843,425.AbbVie Inc makes up approximately 1.70% of Northern Oak Wealth Management Inc’s portfolio.

Other Hedge Funds, Including , Group One Trading reduced its stake in ABBV by selling 16,859 shares or 7.47% in the most recent quarter. The Hedge Fund company now holds 208,753 shares of ABBV which is valued at $14,026,114. AbbVie Inc makes up approx 1.22% of Group One Trading’s portfolio.Nelson Van Denburg Campbell Wealth Management Group boosted its stake in ABBV in the latest quarter, The investment management firm added 469 additional shares and now holds a total of 20,245 shares of AbbVie Inc which is valued at $1,347,102. AbbVie Inc makes up approx 0.55% of Nelson Van Denburg Campbell Wealth Management Group’s portfolio. Wespac Advisors added ABBV to its portfolio by purchasing 12,679 company shares during the most recent quarter which is valued at $822,867. AbbVie Inc makes up approx 0.83% of Wespac Advisors’s portfolio. Atalanta Sosnoff Capital added ABBV to its portfolio by purchasing 335,323 company shares during the most recent quarter which is valued at $21,762,463. AbbVie Inc makes up approx 0.71% of Atalanta Sosnoff Capital’s portfolio.

AbbVie Inc closed down -0.07 points or -0.11% at $64.03 with 51,26,674 shares getting traded on Thursday. Post opening the session at $64.1, the shares hit an intraday low of $63.605 and an intraday high of $64.14 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. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.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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