Connors Investor Services Inc Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Connors Investor Services Inc reduced its stake in AbbVie Inc by 0.03% during the most recent quarter end. The investment management company now holds a total of 134,025 shares of AbbVie Inc which is valued at $9,005,140 after selling 43 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.AbbVie Inc makes up approximately 1.62% of Connors Investor Services Inc’s portfolio.

Other Hedge Funds, Including , Johnson Investment Counsel Inc reduced its stake in ABBV by selling 5,884 shares or 3.76% in the most recent quarter. The Hedge Fund company now holds 150,474 shares of ABBV which is valued at $10,110,348. AbbVie Inc makes up approx 0.32% of Johnson Investment Counsel Inc’s portfolio.Sii Investments Incwi boosted its stake in ABBV in the latest quarter, The investment management firm added 15,060 additional shares and now holds a total of 35,281 shares of AbbVie Inc which is valued at $2,340,542. AbbVie Inc makes up approx 0.19% of Sii Investments Incwi’s portfolio.Bingham Osborn Scarborough boosted its stake in ABBV in the latest quarter, The investment management firm added 114 additional shares and now holds a total of 18,505 shares of AbbVie Inc which is valued at $1,231,323. AbbVie Inc makes up approx 0.13% of Bingham Osborn Scarborough’s portfolio.Westchester Capital Management reduced its stake in ABBV by selling 1,100 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 159,424 shares of ABBV which is valued at $10,608,073. AbbVie Inc makes up approx 4.51% of Westchester Capital Management’s portfolio.Meeder Asset Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 2,453 additional shares and now holds a total of 51,193 shares of AbbVie Inc which is valued at $3,266,625. AbbVie Inc makes up approx 0.30% of Meeder Asset Management Inc’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.

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