Stock Yards Bank Trust Co Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Stock Yards Bank Trust Co reduced its stake in AbbVie Inc by 35.78% during the most recent quarter end. The investment management company now holds a total of 45,683 shares of AbbVie Inc which is valued at $2,748,746 after selling 25,447 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.AbbVie Inc makes up approximately 0.38% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Alta Capital Management boosted its stake in ABBV in the latest quarter, The investment management firm added 1,208 additional shares and now holds a total of 26,774 shares of AbbVie Inc which is valued at $1,637,230. AbbVie Inc makes up approx 0.10% of Alta Capital Management’s portfolio.Private Bank Trust Co reduced its stake in ABBV by selling 366 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 27,054 shares of ABBV which is valued at $1,654,352. AbbVie Inc makes up approx 0.26% of Private Bank Trust Co’s portfolio.Cobiz Investment Management reduced its stake in ABBV by selling 441 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 6,287 shares of ABBV which is valued at $398,030. AbbVie Inc makes up approx 0.10% of Cobiz Investment Management’s portfolio.

AbbVie Inc closed down -0.98 points or -1.60% at $60.17 with 56,06,474 shares getting traded on Friday. Post opening the session at $61.45, the shares hit an intraday low of $60.15 and an intraday high of $61.515 and the price fluctuated in this range throughout the day.Shares ended Friday 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 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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