AbbVie Inc (ABBV) : Boston Financial Mangement reduced its stake in AbbVie Inc by 19.67% during the most recent quarter end. The investment management company now holds a total of 151,784 shares of AbbVie Inc which is valued at $10,198,367 after selling 37,167 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.AbbVie Inc makes up approximately 0.81% of Boston Financial Mangement’s portfolio.
Other Hedge Funds, Including , Mirae Asset Global Investments Ltd. reduced its stake in ABBV by selling 27,921 shares or 35.7% in the most recent quarter. The Hedge Fund company now holds 50,289 shares of ABBV which is valued at $3,378,918. AbbVie Inc makes up approx 0.08% of Mirae Asset Global Investments Ltd.’s portfolio.Wrapmanager Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 1,048 additional shares and now holds a total of 24,329 shares of AbbVie Inc which is valued at $1,634,666. AbbVie Inc makes up approx 0.66% of Wrapmanager Inc’s portfolio. Affinity Investment Advisors sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 307,219 shares of ABBV which is valued $20,568,312.Excalibur Management Corp reduced its stake in ABBV by selling 75 shares or 1.1% in the most recent quarter. The Hedge Fund company now holds 6,730 shares of ABBV which is valued at $436,777. AbbVie Inc makes up approx 0.37% of Excalibur Management Corp’s portfolio.Capital One National Association boosted its stake in ABBV in the latest quarter, The investment management firm added 8,913 additional shares and now holds a total of 47,149 shares of AbbVie Inc which is valued at $2,989,718. AbbVie Inc makes up approx 0.24% of Capital One National Association’s portfolio.
AbbVie Inc closed down -0.84 points or -1.25% at $66.17 with 1,02,27,754 shares getting traded on Tuesday. Post opening the session at $67.26, the shares hit an intraday low of $65.99 and an intraday high of $67.49 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.