AbbVie Inc (ABBV) : Nisa Investment Advisors reduced its stake in AbbVie Inc by 4.89% during the most recent quarter end. The investment management company now holds a total of 601,027 shares of AbbVie Inc which is valued at $37,498,075 after selling 30,913 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.AbbVie Inc makes up approximately 0.49% of Nisa Investment Advisors’s portfolio.
Other Hedge Funds, Including , Terra Nova Asset Management reduced its stake in ABBV by selling 8,575 shares or 25.45% in the most recent quarter. The Hedge Fund company now holds 25,121 shares of ABBV which is valued at $1,567,299. AbbVie Inc makes up approx 3.48% of Terra Nova Asset Management’s portfolio. First United Bank Trust added ABBV to its portfolio by purchasing 3,167 company shares during the most recent quarter which is valued at $200,503. AbbVie Inc makes up approx 0.17% of First United Bank Trust’s portfolio. Acropolis Investment Management sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 1,711 shares of ABBV which is valued $108,460. Hefty Wealth Partners added ABBV to its portfolio by purchasing 616 company shares during the most recent quarter which is valued at $39,048. AbbVie Inc makes up approx 0.03% of Hefty Wealth Partners’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.
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.