Destination Wealth Management buys $19,347,469 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Destination Wealth Management scooped up 22,380 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 298,112 shares of AbbVie Inc which is valued at $19,347,469.AbbVie Inc makes up approximately 1.56% of Destination Wealth Management’s portfolio.

Other Hedge Funds, Including , Trust Co Of Toledo Na Oh reduced its stake in ABBV by selling 1,539 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 49,860 shares of ABBV which is valued at $3,235,914. AbbVie Inc makes up approx 0.92% of Trust Co Of Toledo Na Oh’s portfolio.Commonwealth Financial Services reduced its stake in ABBV by selling 410 shares or 6.81% in the most recent quarter. The Hedge Fund company now holds 5,613 shares of ABBV which is valued at $358,166. AbbVie Inc makes up approx 0.41% of Commonwealth Financial Services’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.Btr Capital Management Inc reduced its stake in ABBV by selling 1,585 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 70,857 shares of ABBV which is valued at $4,503,671. AbbVie Inc makes up approx 1.00% of Btr Capital Management Inc’s portfolio.Webster Bank N. A. reduced its stake in ABBV by selling 125 shares or 0.97% in the most recent quarter. The Hedge Fund company now holds 12,715 shares of ABBV which is valued at $823,551. AbbVie Inc makes up approx 0.12% of Webster Bank N. A.’s portfolio.

AbbVie Inc opened for trading at $65.27 and hit $66.4 on the upside on Friday, eventually ending the session at $66.23, with a gain of 2.33% or 1.51 points. The heightened volatility saw the trading volume jump to 1,05,25,016 shares. Company has a market cap of $107,118 M.

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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