Community Bank N.a. buys $3,587,793 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Community Bank N.a. scooped up 3,215 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 58,672 shares of AbbVie Inc which is valued at $3,587,793.AbbVie Inc makes up approximately 0.83% of Community Bank N.a.’s portfolio.

Other Hedge Funds, Including , 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.Grassi Investment Management boosted its stake in ABBV in the latest quarter, The investment management firm added 975 additional shares and now holds a total of 134,500 shares of AbbVie Inc which is valued at $8,391,455. AbbVie Inc makes up approx 1.62% of Grassi Investment Management’s portfolio.Legal General Group Plc boosted its stake in ABBV in the latest quarter, The investment management firm added 50,873 additional shares and now holds a total of 7,521,091 shares of AbbVie Inc which is valued at $469,240,867. AbbVie Inc makes up approx 0.48% of Legal General Group Plc’s portfolio.Telemus Capital boosted its stake in ABBV in the latest quarter, The investment management firm added 81 additional shares and now holds a total of 20,099 shares of AbbVie Inc which is valued at $1,274,076. AbbVie Inc makes up approx 0.14% of Telemus Capital’s portfolio.Summit Financial Wealth Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 850 additional shares and now holds a total of 54,289 shares of AbbVie Inc which is valued at $3,441,380. AbbVie Inc makes up approx 1.50% of Summit Financial Wealth Advisors’s portfolio.

AbbVie Inc closed down -0.92 points or -1.45% at $62.39 with 53,08,425 shares getting traded on Tuesday. Post opening the session at $63.08, the shares hit an intraday low of $62.05 and an intraday high of $63.26 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 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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