Howard Capital Management Has Trimmed Its Bank Of America (BAC) Stake by $1.13 Million as Valuation Declined; First Financial Has Increased Its Position in Abbvie (ABBV) by $678,960

November 15, 2017 - By Henry Gaston

First Financial Corp increased its stake in Abbvie Inc (ABBV) by 66.9% based on its latest 2017Q2 regulatory filing with the SEC. First Financial Corp bought 9,430 shares as the company’s stock rose 6.17% with the market. The institutional investor held 23,526 shares of the major pharmaceuticals company at the end of 2017Q2, valued at $1.71 million, up from 14,096 at the end of the previous reported quarter. First Financial Corp who had been investing in Abbvie Inc for a number of months, seems to be bullish on the $148.52 billion market cap company. The stock declined 1.67% or $1.58 reaching $93.17 on the news. About 153,825 shares traded. AbbVie Inc (NYSE:ABBV) has risen 10.63% since November 15, 2016 and is uptrending. It has underperformed by 6.07% the S&P500.




Howard Capital Management decreased its stake in Bank Of America Corp (BAC) by 65.16% based on its latest 2017Q2 regulatory filing with the SEC. Howard Capital Management sold 46,976 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 25,112 shares of the major banks company at the end of 2017Q2, valued at $609,000, down from 72,088 at the end of the previous reported quarter. Howard Capital Management who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $270.67 billion market cap company. The stock declined 1.11% or $0.29 reaching $25.95 per share. About 3.73 million shares traded. Bank of America Corp (NYSE:BAC) has risen 58.64% since November 15, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

More notable recent AbbVie Inc (NYSE:ABBV) news were published by: Investorplace.com which released: “AbbVie Inc (ABBV) Earnings: 12 Things to Know” on October 27, 2017, also Nasdaq.com with their article: “Tiaa Cref Investment Management Llc Buys DowDuPont Inc, Costco Wholesale Corp …” published on November 13, 2017, Seekingalpha.com published: “AbbVie inks $225M neurodegenerative drug development deal with Alector” on October 24, 2017. More interesting news about AbbVie Inc (NYSE:ABBV) were released by: Nasdaq.com and their article: “Can AbbVie (ABBV) Spring a Surprise this Earnings Season?” published on October 24, 2017 as well as Seekingalpha.com‘s news article titled: “AbbVie: Another Spectacular Quarter From This Dividend Aristocrat” with publication date: October 28, 2017.

Since May 18, 2017, it had 0 insider purchases, and 2 selling transactions for $8.79 million activity. Shares for $5.59M were sold by Schumacher Laura J. $2.50M worth of AbbVie Inc (NYSE:ABBV) was sold by CHASE WILLIAM J. GONZALEZ RICHARD A sold 71,235 shares worth $4.67M.

Investors sentiment increased to 1 in 2017 Q2. Its up 0.01, from 0.99 in 2017Q1. It increased, as 55 investors sold ABBV shares while 581 reduced holdings. 138 funds opened positions while 500 raised stakes. 1.04 billion shares or 0.53% more from 1.04 billion shares in 2017Q1 were reported. Blue Fincl Capital accumulated 0.71% or 15,178 shares. Breton Hill reported 143,225 shares stake. Braun Stacey Assoc owns 35,165 shares for 0.17% of their portfolio. Vestor Cap Ltd Liability Corporation holds 0.15% or 8,372 shares. Taurus Asset Mgmt Lc accumulated 57,452 shares. Peapack Gladstone holds 0% or 170,579 shares in its portfolio. Bancorpsouth stated it has 28,985 shares. Endurance Wealth has invested 1.39% of its portfolio in AbbVie Inc (NYSE:ABBV). Advisory Research reported 37,835 shares stake. State Teachers Retirement System reported 2.81 million shares. Grantham Mayo Van Otterloo And Com Limited Liability Company owns 14,500 shares. Stevens Cap Mngmt Limited Partnership reported 330,831 shares. Pictet And Cie (Europe) owns 0.16% invested in AbbVie Inc (NYSE:ABBV) for 15,454 shares. Rothschild Asset has 0.02% invested in AbbVie Inc (NYSE:ABBV) for 20,144 shares. M&T National Bank Corp, a New York-based fund reported 1.28M shares.

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 66 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating by Goldman Sachs given on Friday, March 10. The stock of AbbVie Inc (NYSE:ABBV) earned “Hold” rating by BMO Capital Markets on Friday, April 28. As per Monday, September 25, the company rating was downgraded by UBS. The company was maintained on Monday, May 29 by Jefferies. As per Friday, June 10, the company rating was downgraded by BMO Capital Markets. The firm has “Hold” rating given on Tuesday, March 15 by Deutsche Bank. The stock has “Buy” rating by Jefferies on Friday, July 14. The stock has “Equal-Weight” rating by Barclays Capital on Friday, October 13. Jefferies maintained it with “Buy” rating and $94.0 target in Friday, August 18 report. Barclays Capital downgraded AbbVie Inc (NYSE:ABBV) on Tuesday, December 1 to “Equal-Weight” rating.

Analysts await Bank of America Corp (NYSE:BAC) to report earnings on January, 12. They expect $0.47 EPS, up 17.50% or $0.07 from last year’s $0.4 per share. BAC’s profit will be $4.90 billion for 13.80 P/E if the $0.47 EPS becomes a reality. After $0.48 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts -2.08% negative EPS growth.

More notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: “Bank of America Corp Is the Best Consumer Bank Bet Out There” on October 18, 2017, also Reuters.com with their article: “UPDATE 1-Bank of America exec: Volcker Rule fuels private trading firms’ rise” published on November 14, 2017, Nasdaq.com published: “Ex-Div Reminder for Bank of America Corp.’s 7% Capital Securities” on October 26, 2017. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: “3 Big Stock Charts for Friday: Bank of America Corp, Citigroup Inc and …” published on November 10, 2017 as well as Reuters.com‘s news article titled: “Bank of America CEO still sees no upside from Brexit” with publication date: October 26, 2017.

Among 30 analysts covering Bank of America (NYSE:BAC), 20 have Buy rating, 0 Sell and 10 Hold. Therefore 67% are positive. Bank of America had 94 analyst reports since July 21, 2015 according to SRatingsIntel. On Wednesday, August 23 the stock rating was maintained by BMO Capital Markets with “Hold”. RBC Capital Markets maintained Bank of America Corp (NYSE:BAC) on Wednesday, April 5 with “Buy” rating. JP Morgan maintained the stock with “Overweight” rating in Thursday, April 7 report. On Wednesday, January 11 the stock rating was upgraded by Societe Generale to “Buy”. As per Monday, May 16, the company rating was downgraded by Keefe Bruyette & Woods. The company was maintained on Wednesday, November 1 by JP Morgan. The firm has “Hold” rating given on Monday, April 24 by Berenberg. On Tuesday, July 19 the stock rating was maintained by Citigroup with “Buy”. The firm has “Buy” rating given on Tuesday, September 1 by Bernstein. RBC Capital Markets maintained Bank of America Corp (NYSE:BAC) on Friday, October 6 with “Buy” rating.

Howard Capital Management, which manages about $328.90 million and $636.14M US Long portfolio, upped its stake in Biotechnology Sector Etf (Ibb) (IBB) by 1,185 shares to 69,064 shares, valued at $21.42 million in 2017Q2, according to the filing.

Investors sentiment decreased to 1.12 in Q2 2017. Its down 0.03, from 1.15 in 2017Q1. It is negative, as 79 investors sold BAC shares while 543 reduced holdings. 120 funds opened positions while 577 raised stakes. 6.34 billion shares or 0.73% less from 6.39 billion shares in 2017Q1 were reported. Yacktman Asset Mngmt Lp accumulated 1.11 million shares. Canandaigua Natl Bancshares Company reported 101,107 shares or 0.5% of all its holdings. Diamond Hill Cap Inc has 9,565 shares for 0% of their portfolio. Tiger Ltd Liability, a New York-based fund reported 678,300 shares. Tcw Group invested 0.02% of its portfolio in Bank of America Corp (NYSE:BAC). Shikiar Asset Management Incorporated accumulated 296,874 shares. Cubic Asset Mgmt Lc accumulated 0.19% or 27,151 shares. Moreover, Iab Finance Savings Bank has 0.11% invested in Bank of America Corp (NYSE:BAC). Wealthtrust Fairport Ltd Liability Company reported 0.03% in Bank of America Corp (NYSE:BAC). Aberdeen Asset Mngmt Public Ltd Liability Uk holds 0.49% or 6.00M shares. Moreover, Argi Invest Service Ltd Com has 0.04% invested in Bank of America Corp (NYSE:BAC) for 22,229 shares. Eastern Bancorp holds 863,747 shares. Berson Corrado Invest Advsrs Limited Liability Corp holds 4.28% or 321,974 shares in its portfolio. Carl Domino has 0.92% invested in Bank of America Corp (NYSE:BAC). Davenport & Com Ltd Llc accumulated 242,532 shares.

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