Selway Asset Management buys $5,119,233 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Selway Asset Management scooped up 10,200 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 76,900 shares of AbbVie Inc which is valued at $5,119,233.AbbVie Inc makes up approximately 3.14% of Selway Asset Management’s portfolio.

Other Hedge Funds, Including , Pekin Singer Strauss Asset Management Il reduced its stake in ABBV by selling 292 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 53,231 shares of ABBV which is valued at $3,543,588. AbbVie Inc makes up approx 0.76% of Pekin Singer Strauss Asset Management Il’s portfolio.Douglas Lane Associates boosted its stake in ABBV in the latest quarter, The investment management firm added 1,121 additional shares and now holds a total of 22,721 shares of AbbVie Inc which is valued at $1,474,593. AbbVie Inc makes up approx 0.04% of Douglas Lane Associates’s portfolio.Bender Robert Associates boosted its stake in ABBV in the latest quarter, The investment management firm added 367 additional shares and now holds a total of 61,822 shares of AbbVie Inc which is valued at $3,944,862. AbbVie Inc makes up approx 2.63% of Bender Robert Associates’s portfolio.Capital Analysts boosted its stake in ABBV in the latest quarter, The investment management firm added 403 additional shares and now holds a total of 12,068 shares of AbbVie Inc which is valued at $767,042. AbbVie Inc makes up approx 0.15% of Capital Analysts’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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