Somerville Kurt F buys $9,401,349 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Somerville Kurt F scooped up 14,885 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 208,687 shares of Abbott Laboratories which is valued at $9,401,349.Abbott Laboratories makes up approximately 2.06% of Somerville Kurt F’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc boosted its stake in ABT in the latest quarter, The investment management firm added 115,254 additional shares and now holds a total of 568,627 shares of Abbott Laboratories which is valued at $25,616,646. Abbott Laboratories makes up approx 0.21% of Los Angeles Capital Management Equity Research Inc’s portfolio.Advisory Services Network boosted its stake in ABT in the latest quarter, The investment management firm added 2,722 additional shares and now holds a total of 4,957 shares of Abbott Laboratories which is valued at $216,472. Abbott Laboratories makes up approx 0.05% of Advisory Services Network’s portfolio.Papp L Roy Associates reduced its stake in ABT by selling 99 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 9,419 shares of ABT which is valued at $411,328. Abbott Laboratories makes up approx 0.09% of Papp L Roy Associates’s portfolio.Dowling Yahnke boosted its stake in ABT in the latest quarter, The investment management firm added 5,423 additional shares and now holds a total of 84,949 shares of Abbott Laboratories which is valued at $3,667,248. Abbott Laboratories makes up approx 0.42% of Dowling Yahnke’s portfolio.Berkshire Asset Managementpa reduced its stake in ABT by selling 4,283 shares or 2.02% in the most recent quarter. The Hedge Fund company now holds 208,154 shares of ABT which is valued at $8,877,768. Abbott Laboratories makes up approx 1.31% of Berkshire Asset Managementpa’s portfolio.

Abbott Laboratories opened for trading at $45.2 and hit $45.23 on the upside on Monday, eventually ending the session at $45.15, with a gain of 0.24% or 0.11 points. The heightened volatility saw the trading volume jump to 65,25,830 shares. Company has a market cap of $66,370 M.

On the company’s financial health, Abbott Laboratories reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $5333.00 million for the quarter, compared to analysts expectations of $5244.94 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Abbott Laboratories was Upgraded by Edward Jones to ” Buy” on Jun 21, 2016.

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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