Dumont Blake Investment Advisors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Dumont Blake Investment Advisors reduced its stake in AbbVie Inc by 2.68% during the most recent quarter end. The investment management company now holds a total of 21,755 shares of AbbVie Inc which is valued at $1,448,230 after selling 600 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.AbbVie Inc makes up approximately 0.71% of Dumont Blake Investment Advisors’s portfolio.

Other Hedge Funds, Including , State Of New Jersey Common Pension Fund D boosted its stake in ABBV in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 2,236,000 shares of AbbVie Inc which is valued at $148,850,520. AbbVie Inc makes up approx 0.65% of State Of New Jersey Common Pension Fund D’s portfolio.Aberdeen Asset Management Plcuk boosted its stake in ABBV in the latest quarter, The investment management firm added 45,909 additional shares and now holds a total of 741,905 shares of AbbVie Inc which is valued at $49,388,616. AbbVie Inc makes up approx 0.18% of Aberdeen Asset Management Plcuk’s portfolio.Jlb Associates Inc reduced its stake in ABBV by selling 330 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 68,065 shares of ABBV which is valued at $4,343,228. AbbVie Inc makes up approx 1.19% of Jlb Associates Inc’s portfolio.Indiana Trust Investment Management Co boosted its stake in ABBV in the latest quarter, The investment management firm added 2,481 additional shares and now holds a total of 22,601 shares of AbbVie Inc which is valued at $1,399,454. AbbVie Inc makes up approx 0.73% of Indiana Trust Investment Management Co’s portfolio.

AbbVie Inc closed down -0.2 points or -0.30% at $66.34 with 53,09,293 shares getting traded on Monday. Post opening the session at $66.38, the shares hit an intraday low of $65.75 and an intraday high of $66.67 and the price fluctuated in this range throughout the day.Shares ended Monday 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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