Tipp Hill Capital Management Exits Position in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Tipp Hill Capital Management has sold out all of its stake in AbbVie Inc during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 138,000 shares of AbbVie Inc which is valued at $9,186,660.

Other Hedge Funds, Including , Barton Investment Management reduced its stake in ABBV by selling 5,900 shares or 37.51% in the most recent quarter. The Hedge Fund company now holds 9,828 shares of ABBV which is valued at $654,250. AbbVie Inc makes up approx 0.23% of Barton Investment Management’s portfolio.Sippican Capital Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 2,900 additional shares and now holds a total of 10,443 shares of AbbVie Inc which is valued at $677,751. AbbVie Inc makes up approx 0.77% of Sippican Capital Advisors’s portfolio. Sanders Morris Harris sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 17,566 shares of ABBV which is valued $1,140,033.Cornerstone Advisors reduced its stake in ABBV by selling 461 shares or 14.67% in the most recent quarter. The Hedge Fund company now holds 2,681 shares of ABBV which is valued at $173,997. AbbVie Inc makes up approx 0.17% of Cornerstone Advisors’s portfolio.Investors Asset Management Of Georgia Inc Ga Adv boosted its stake in ABBV in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 9,810 shares of AbbVie Inc which is valued at $625,976. AbbVie Inc makes up approx 0.47% of Investors Asset Management Of Georgia Inc Ga Adv’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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