Pointstate Capital Lp buys $151,177,500 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Pointstate Capital Lp scooped up 2,000,000 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 2,250,000 shares of AbbVie Inc which is valued at $151,177,500.AbbVie Inc makes up approximately 3.87% of Pointstate Capital Lp’s portfolio.

Other Hedge Funds, Including , Verition Fund Management boosted its stake in ABBV in the latest quarter, The investment management firm added 16,131 additional shares and now holds a total of 21,568 shares of AbbVie Inc which is valued at $1,449,154. AbbVie Inc makes up approx 0.35% of Verition Fund Management’s portfolio.Banque Pictet Cie Sa reduced its stake in ABBV by selling 4,428 shares or 4.17% in the most recent quarter. The Hedge Fund company now holds 101,852 shares of ABBV which is valued at $6,843,436. AbbVie Inc makes up approx 0.18% of Banque Pictet Cie Sa’s portfolio.Norinchukin Bank The reduced its stake in ABBV by selling 4,166 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 213,359 shares of ABBV which is valued at $14,284,385. AbbVie Inc makes up approx 0.33% of Norinchukin Bank The’s portfolio.Parthenon reduced its stake in ABBV by selling 6,400 shares or 12.81% in the most recent quarter. The Hedge Fund company now holds 43,569 shares of ABBV which is valued at $2,827,628. AbbVie Inc makes up approx 0.70% of Parthenon’s portfolio.Country Club Trust Company N.a. reduced its stake in ABBV by selling 12,600 shares or 71.97% in the most recent quarter. The Hedge Fund company now holds 4,908 shares of ABBV which is valued at $313,179. AbbVie Inc makes up approx 0.04% of Country Club Trust Company N.a.’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.

Leave a Reply

AbbVie Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on AbbVie Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.