Woodford Investment Management Llp buys $743,343,127 stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Woodford Investment Management Llp scooped up 2,269,300 additional shares in AbbVie Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 11,063,300 shares of AbbVie Inc which is valued at $743,343,127.AbbVie Inc makes up approximately 28.85% of Woodford Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Avalon Advisors boosted its stake in ABBV in the latest quarter, The investment management firm added 229,209 additional shares and now holds a total of 444,558 shares of AbbVie Inc which is valued at $29,869,852. AbbVie Inc makes up approx 1.12% of Avalon Advisors’s portfolio. Princeton Alpha Management Lp sold out all of its stake in ABBV during the most recent quarter. The investment firm sold 44,821 shares of ABBV which is valued $2,982,389.Pinnacle Wealth Management Advisory Group boosted its stake in ABBV in the latest quarter, The investment management firm added 4,885 additional shares and now holds a total of 9,225 shares of AbbVie Inc which is valued at $613,832. AbbVie Inc makes up approx 0.47% of Pinnacle Wealth Management Advisory Group’s portfolio.

AbbVie Inc closed down -0.07 points or -0.11% at $64.03 with 51,26,674 shares getting traded on Thursday. Post opening the session at $64.1, the shares hit an intraday low of $63.605 and an intraday high of $64.14 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. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.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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