Hm Payson Co Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Hm Payson Co reduced its stake in AbbVie Inc by 3.82% during the most recent quarter end. The investment management company now holds a total of 272,255 shares of AbbVie Inc which is valued at $18,227,472 after selling 10,816 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.AbbVie Inc makes up approximately 0.88% of Hm Payson Co’s portfolio.

Other Hedge Funds, Including , Ropes Wealth Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 1,162 additional shares and now holds a total of 33,819 shares of AbbVie Inc which is valued at $2,264,182. AbbVie Inc makes up approx 0.77% of Ropes Wealth Advisors’s portfolio.Qci Asset Management Incny boosted its stake in ABBV in the latest quarter, The investment management firm added 3,537 additional shares and now holds a total of 179,916 shares of AbbVie Inc which is valued at $11,971,611. AbbVie Inc makes up approx 1.63% of Qci Asset Management Incny’s portfolio.Bbva Compass Bancshares Inc reduced its stake in ABBV by selling 1,237 shares or 3.5% in the most recent quarter. The Hedge Fund company now holds 34,060 shares of ABBV which is valued at $2,255,794. AbbVie Inc makes up approx 0.16% of Bbva Compass Bancshares Inc’s portfolio.Svenska Handelsbanken Ab (publ) reduced its stake in ABBV by selling 547,365 shares or 98.35% in the most recent quarter. The Hedge Fund company now holds 9,200 shares of ABBV which is valued at $595,884. AbbVie Inc makes up approx 0.04% of Svenska Handelsbanken Ab (publ)’s portfolio.

AbbVie Inc opened for trading at $67.47 and hit $68.1239 on the upside on Monday, eventually ending the session at $67.39, with a gain of 0.30% or 0.2 points. The heightened volatility saw the trading volume jump to 52,15,360 shares. Company has a market cap of $109,747 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *