Putnam Fl Investment Management Co Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Putnam Fl Investment Management Co reduced its stake in AbbVie Inc by 45.36% during the most recent quarter end. The investment management company now holds a total of 76,652 shares of AbbVie Inc which is valued at $5,102,724 after selling 63,630 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.AbbVie Inc makes up approximately 0.59% of Putnam Fl Investment Management Co’s portfolio.

Other Hedge Funds, Including , United Asset Strategies added ABBV to its portfolio by purchasing 3,780 company shares during the most recent quarter which is valued at $251,635. AbbVie Inc makes up approx 0.09% of United Asset Strategies’s portfolio.Concert Wealth Management boosted its stake in ABBV in the latest quarter, The investment management firm added 12,708 additional shares and now holds a total of 64,268 shares of AbbVie Inc which is valued at $4,256,470. AbbVie Inc makes up approx 0.56% of Concert Wealth Management’s portfolio. Grimes Company sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 3,700 shares of ABBV which is valued $240,130.Stock Yards Bank Trust Co reduced its stake in ABBV by selling 3,779 shares or 5.04% in the most recent quarter. The Hedge Fund company now holds 71,130 shares of ABBV which is valued at $4,404,370. AbbVie Inc makes up approx 0.59% of Stock Yards Bank Trust Co’s portfolio.

AbbVie Inc closed down -0.47 points or -0.71% at $66.1 with 49,01,851 shares getting traded on Thursday. Post opening the session at $66.58, the shares hit an intraday low of $66.08 and an intraday high of $66.98 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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