State Treasurer State Of Michigan Stake in Abbvie INC (ABBV) Increased by $8.07 Million as Stock Were Volatile

May 19, 2017 - By Vivian Park

State Treasurer State Of Michigan increased its stake in Abbvie Inc (ABBV) by 15.9% based on its latest 2016Q4 regulatory filing with the SEC. State Treasurer State Of Michigan bought 130,240 shares as the company’s stock 0.00% . The institutional investor held 949,103 shares of the major pharmaceuticals company at the end of 2016Q4, valued at $59.43 million, up from 818,863 at the end of the previous reported quarter. State Treasurer State Of Michigan who had been investing in Abbvie Inc for a number of months, seems to be bullish on the $104.55 billion market cap company. The stock declined 0.30% or $0.2 reaching $65.43 on the news. About 2.86M shares traded. AbbVie Inc (NYSE:ABBV) has risen 6.00% since April 19, 2017 and is uptrending. It has by 0.00% the S&P500.

State Treasurer State Of Michigan, which manages about $12.60 billion US Long portfolio, decreased its stake in Reynolds American Inc (NYSE:RAI) by 65,772 shares to 555,614 shares, valued at $31.14 million in 2016Q4, according to the filing. It also reduced its holding in General Electric Co (NYSE:GE) by 234,428 shares in the quarter, leaving it with 3.44 million shares, and cut its stake in Mcdonalds Corp (NYSE:MCD).

Investors sentiment decreased to 0.98 in 2016 Q4. Its down 0.05, from 1.03 in 2016Q3. It dropped, as 86 investors sold ABBV shares while 555 reduced holdings. 99 funds opened positions while 531 raised stakes. 1.03 billion shares or 0.70% less from 1.04 billion shares in 2016Q3 were reported. Old Republic Intl Corp owns 0.94% invested in AbbVie Inc (NYSE:ABBV) for 418,200 shares. Dillon Assocs Inc owns 125,651 shares for 3.6% of their portfolio. Gulf Int National Bank (Uk) has invested 0.48% in AbbVie Inc (NYSE:ABBV). Mitsubishi Ufj Trust & Bk Corporation reported 3.57M shares. Partner Fund Mgmt LP holds 1.17M shares. 86,397 are held by Schmidt P J Investment. 6,826 are held by Evermay Wealth Management Ltd Liability Co. Union Comml Bank Corporation owns 0.39% invested in AbbVie Inc (NYSE:ABBV) for 16,794 shares. Yhb Investment Advsrs Incorporated reported 0.68% stake. Eventide Asset Management Ltd Liability Corp has 3.42% invested in AbbVie Inc (NYSE:ABBV). Moreover, Eagleclaw Managment Ltd has 2.2% invested in AbbVie Inc (NYSE:ABBV). Condor Capital Mgmt accumulated 74,457 shares. Spears Abacus Advsrs Limited Liability Company accumulated 3,216 shares. Point72 Asset Management LP has 1.14 million shares for 0.5% of their portfolio. Bridges Inv Counsel Inc reported 76,526 shares stake.

Since November 16, 2016, it had 0 buys, and 7 selling transactions for $12.45 million activity. $1.47 million worth of AbbVie Inc (NYSE:ABBV) was sold by RICHMOND TIMOTHY J.. $4.63 million worth of AbbVie Inc (NYSE:ABBV) was sold by GONZALEZ RICHARD A on Wednesday, March 8. CHASE WILLIAM J had sold 6,600 shares worth $390,654. $2.61 million worth of AbbVie Inc (NYSE:ABBV) was sold by Schumacher Laura J. 5,132 shares were sold by Michael Robert A., worth $335,068. 43,000 shares valued at $2.88M were sold by ALBAN CARLOS on Thursday, May 4. HURWICH THOMAS A. also sold $143,031 worth of AbbVie Inc (NYSE:ABBV) shares.

More notable recent AbbVie Inc (NYSE:ABBV) news were published by: Seekingalpha.com which released: “AbbVie: Too Risky” on May 17, 2017, also Seekingalpha.com with their article: “AbbVie Declines After Humira Patent Loss” published on May 17, 2017, Seekingalpha.com published: “AbbVie’s Revenue Growth Should Continue” on May 15, 2017. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Investorplace.com and their article: “AbbVie Inc (ABBV) Stock STILL Has Much More Room to Run Higher” published on May 18, 2017 as well as Seekingalpha.com‘s news article titled: “3 Reasons To Prefer AbbVie Over Biogen” with publication date: May 12, 2017.

AbbVie Inc (NYSE:ABBV) Ratings Coverage

Among 17 analysts covering Abbvie Inc (NYSE:ABBV), 6 have Buy rating, 1 Sell and 10 Hold. Therefore 35% are positive. Abbvie Inc had 34 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank initiated the stock with “Hold” rating in Tuesday, March 15 report. The rating was maintained by BMO Capital Markets on Friday, April 28 with “Hold”. Leerink Swann initiated AbbVie Inc (NYSE:ABBV) on Tuesday, October 18 with “Mkt Perform” rating. Cowen & Co downgraded AbbVie Inc (NYSE:ABBV) on Monday, June 6 to “Market Perform” rating. Citigroup upgraded AbbVie Inc (NYSE:ABBV) rating on Tuesday, February 23. Citigroup has “Buy” rating and $65 target. The stock of AbbVie Inc (NYSE:ABBV) has “Equal-Weight” rating given on Wednesday, June 8 by Morgan Stanley. The stock of AbbVie Inc (NYSE:ABBV) has “” rating given on Monday, September 28 by Citigroup. Jefferies upgraded it to “Buy” rating and $55 target in Monday, December 7 report. The stock of AbbVie Inc (NYSE:ABBV) has “Market Perform” rating given on Friday, June 10 by BMO Capital Markets. On Friday, December 18 the stock rating was initiated by Atlantic Securities with “Neutral”.

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