Epoch Investment Partners Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Epoch Investment Partners reduced its stake in AbbVie Inc by 27.49% during the most recent quarter end. The investment management company now holds a total of 6,245,846 shares of AbbVie Inc which is valued at $419,658,393 after selling 2,367,620 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.AbbVie Inc makes up approximately 1.53% of Epoch Investment Partners’s portfolio.

Other Hedge Funds, Including , Ascend Capital sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 80,000 shares of ABBV which is valued $5,375,200.Jupiter Asset Management Ltd reduced its stake in ABBV by selling 51,342 shares or 6.45% in the most recent quarter. The Hedge Fund company now holds 744,113 shares of ABBV which is valued at $49,996,952. AbbVie Inc makes up approx 2.01% of Jupiter Asset Management Ltd’s portfolio.Dana Investment Advisors reduced its stake in ABBV by selling 12,282 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 549,337 shares of ABBV which is valued at $36,552,884. AbbVie Inc makes up approx 1.57% of Dana Investment Advisors’s portfolio.Front Barnett Associates reduced its stake in ABBV by selling 313 shares or 3.49% in the most recent quarter. The Hedge Fund company now holds 8,663 shares of ABBV which is valued at $576,696. AbbVie Inc makes up approx 0.11% of Front Barnett Associates’s portfolio.Terra Nova Asset Management reduced its stake in ABBV by selling 716 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 33,696 shares of ABBV which is valued at $2,186,870. AbbVie Inc makes up approx 3.63% of Terra Nova Asset Management’s portfolio.

AbbVie Inc closed down -0.1 points or -0.15% at $64.51 with 50,99,249 shares getting traded on Monday. Post opening the session at $64.84, the shares hit an intraday low of $64.19 and an intraday high of $65.09 and the price fluctuated in this range throughout the day.Shares ended Monday 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 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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