Valley National Advisers Inc buys $928,016 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Valley National Advisers Inc scooped up 24 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 21,053 shares of Abbott Laboratories which is valued at $928,016.Abbott Laboratories makes up approximately 0.49% of Valley National Advisers Inc’s portfolio.

Abbott Laboratories closed down -0.05 points or -0.11% at $43.83 with 50,35,092 shares getting traded on Wednesday. Post opening the session at $43.93, the shares hit an intraday low of $43.69 and an intraday high of $44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in ABT by selling 18,276 shares or 5.79% in the most recent quarter. The Hedge Fund company now holds 297,272 shares of ABT which is valued at $13,103,750. Abbott Laboratories makes up approx 0.70% of Seaward Management Limited Partnership’s portfolio.Firstmerit Bank N A Trustee reduced its stake in ABT by selling 1,852 shares or 2.57% in the most recent quarter. The Hedge Fund company now holds 70,207 shares of ABT which is valued at $3,094,725. Abbott Laboratories makes up approx 0.25% of Firstmerit Bank N A Trustee’s portfolio.Gulf International Bank (uk) Ltd boosted its stake in ABT in the latest quarter, The investment management firm added 2,230 additional shares and now holds a total of 447,421 shares of Abbott Laboratories which is valued at $19,722,318. Abbott Laboratories makes up approx 0.33% of Gulf International Bank (uk) Ltd’s portfolio.Nexus Investment Management reduced its stake in ABT by selling 400 shares or 6.14% in the most recent quarter. The Hedge Fund company now holds 6,115 shares of ABT which is valued at $259,765. Abbott Laboratories makes up approx 0.05% of Nexus Investment Management’s portfolio.Academy Capital Management Inctx reduced its stake in ABT by selling 2,111 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 151,481 shares of ABT which is valued at $6,434,913. Abbott Laboratories makes up approx 1.57% of Academy Capital Management Inctx’s portfolio.

On the company’s financial health, Abbott Laboratories reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.39. The company had revenue of $4885.00 million for the quarter, compared to analysts expectations of $4777.68 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Company shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 45 from a previous price target of $51 .

Abbott Laboratories (Abbott) is engaged in the discovery development manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products Diagnostic Products Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks hospitals commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary endovascular structural heart vessel closure and other medical device products.

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