Beech Hill Advisors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Beech Hill Advisors reduced its stake in AbbVie Inc by 2.92% during the most recent quarter end. The investment management company now holds a total of 68,577 shares of AbbVie Inc which is valued at $4,348,468 after selling 2,060 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.AbbVie Inc makes up approximately 2.83% of Beech Hill Advisors’s portfolio.

Other Hedge Funds, Including , Hochman Cole Investment Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 39,809 shares of AbbVie Inc which is valued at $2,524,289. AbbVie Inc makes up approx 2.00% of Hochman Cole Investment Advisors’s portfolio.Nisa Investment Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 100,674 additional shares and now holds a total of 631,940 shares of AbbVie Inc which is valued at $40,166,106. AbbVie Inc makes up approx 0.52% of Nisa Investment Advisors’s portfolio.Pioneer Trust Bank N Aor boosted its stake in ABBV in the latest quarter, The investment management firm added 3,955 additional shares and now holds a total of 48,600 shares of AbbVie Inc which is valued at $3,089,016. AbbVie Inc makes up approx 1.82% of Pioneer Trust Bank N Aor’s portfolio.Gateway Investment Advisers reduced its stake in ABBV by selling 15,076 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 1,058,503 shares of ABBV which is valued at $68,559,239. AbbVie Inc makes up approx 0.57% of Gateway Investment Advisers’s portfolio.Pacwest Financial Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 1,020 additional shares and now holds a total of 33,863 shares of AbbVie Inc which is valued at $2,193,307. AbbVie Inc makes up approx 1.34% of Pacwest Financial Management Inc’s portfolio.

AbbVie Inc opened for trading at $63.57 and hit $63.9 on the upside on Wednesday, eventually ending the session at $63.41, with a gain of 0.14% or 0.09 points. The heightened volatility saw the trading volume jump to 75,02,821 shares. Company has a market cap of $102,557 M.

On the company’s financial health, AbbVie Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.14. The company had revenue of $5958.00 million for the quarter, compared to analysts expectations of $5978.41 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 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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