Royal London Asset Management Ltd Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Royal London Asset Management Ltd reduced its stake in AbbVie Inc by 11.41% during the most recent quarter end. The investment management company now holds a total of 548,532 shares of AbbVie Inc which is valued at $36,515,775 after selling 70,641 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.AbbVie Inc makes up approximately 0.58% of Royal London Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc boosted its stake in ABBV in the latest quarter, The investment management firm added 14,632 additional shares and now holds a total of 227,056 shares of AbbVie Inc which is valued at $15,115,118. AbbVie Inc makes up approx 0.11% of Cibc Asset Management Inc’s portfolio.Boston Private Wealth reduced its stake in ABBV by selling 10,516 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 461,410 shares of ABBV which is valued at $30,716,064. AbbVie Inc makes up approx 1.22% of Boston Private Wealth’s portfolio.Palladium Partners reduced its stake in ABBV by selling 1,198 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 54,355 shares of ABBV which is valued at $3,446,651. AbbVie Inc makes up approx 0.30% of Palladium Partners’s portfolio.Ronna Sue Cohen boosted its stake in ABBV in the latest quarter, The investment management firm added 139 additional shares and now holds a total of 27,540 shares of AbbVie Inc which is valued at $1,783,766. AbbVie Inc makes up approx 1.30% of Ronna Sue Cohen’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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