Canal Capital Management Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Canal Capital Management reduced its stake in AbbVie Inc by 38.61% during the most recent quarter end. The investment management company now holds a total of 3,823 shares of AbbVie Inc which is valued at $255,950 after selling 2,404 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.AbbVie Inc makes up approximately 0.26% of Canal Capital Management’s portfolio.

Other Hedge Funds, Including , Geneva Advisors reduced its stake in ABBV by selling 545,118 shares or 87.75% in the most recent quarter. The Hedge Fund company now holds 76,120 shares of ABBV which is valued at $5,096,234. AbbVie Inc makes up approx 0.10% of Geneva Advisors’s portfolio.Tiaa Cref Trust Co Fsbmo boosted its stake in ABBV in the latest quarter, The investment management firm added 1,284 additional shares and now holds a total of 171,560 shares of AbbVie Inc which is valued at $10,947,244. AbbVie Inc makes up approx 0.10% of Tiaa Cref Trust Co Fsbmo’s portfolio.Kanaly Trust Co boosted its stake in ABBV in the latest quarter, The investment management firm added 829 additional shares and now holds a total of 29,621 shares of AbbVie Inc which is valued at $1,890,116. AbbVie Inc makes up approx 0.38% of Kanaly Trust Co’s portfolio.Rockefeller Financial Services Inc reduced its stake in ABBV by selling 80,678 shares or 44.86% in the most recent quarter. The Hedge Fund company now holds 99,151 shares of ABBV which is valued at $6,326,825. AbbVie Inc makes up approx 0.12% of Rockefeller Financial Services Inc’s portfolio.Telemus Capital boosted its stake in ABBV in the latest quarter, The investment management firm added 101 additional shares and now holds a total of 20,018 shares of AbbVie Inc which is valued at $1,269,341. AbbVie Inc makes up approx 0.15% of Telemus Capital’s portfolio.

AbbVie Inc opened for trading at $67.47 and hit $68.1239 on the upside on Monday, eventually ending the session at $67.39, with a gain of 0.30% or 0.2 points. The heightened volatility saw the trading volume jump to 52,15,360 shares. Company has a market cap of $109,747 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.

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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