Exxonmobil Investment Management Inc Tx Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Exxonmobil Investment Management Inc Tx reduced its stake in AbbVie Inc by 0.68% during the most recent quarter end. The investment management company now holds a total of 415,825 shares of AbbVie Inc which is valued at $26,167,867 after selling 2,829 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.AbbVie Inc makes up approximately 0.55% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Nadler Financial Group boosted its stake in ABBV in the latest quarter, The investment management firm added 1,369 additional shares and now holds a total of 11,172 shares of AbbVie Inc which is valued at $703,054. AbbVie Inc makes up approx 0.28% of Nadler Financial Group’s portfolio.Franklin Street Advisors Inc Nc boosted its stake in ABBV in the latest quarter, The investment management firm added 2,666 additional shares and now holds a total of 164,178 shares of AbbVie Inc which is valued at $10,407,243. AbbVie Inc makes up approx 1.91% of Franklin Street Advisors Inc Nc’s portfolio. Acropolis Investment Management sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 1,711 shares of ABBV which is valued $108,460.Beacon Financial Group boosted its stake in ABBV in the latest quarter, The investment management firm added 611 additional shares and now holds a total of 7,835 shares of AbbVie Inc which is valued at $496,661. AbbVie Inc makes up approx 0.10% of Beacon Financial Group’s portfolio.

AbbVie Inc opened for trading at $63.1 and hit $63.58 on the upside on Friday, eventually ending the session at $62.93, with a gain of 0.16% or 0.1 points. The heightened volatility saw the trading volume jump to 38,12,671 shares. Company has a market cap of $102,484 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.

Investors should note that on Sep 9, 2016, AbbVie Inc announced a cash dividend of $0.5700. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Nov 15, 2016.

Many Wall Street Analysts have commented on AbbVie Inc. AbbVie Inc was Downgraded by JP Morgan to ” Neutral” on Sep 8, 2016. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.

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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