Beaumont Financial Partners buys $4.8 Million stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Beaumont Financial Partners scooped up 51,731 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 128,481 shares of Abbott Laboratories which is valued at $4.8 Million.Abbott Laboratories makes up approximately 0.80% of Beaumont Financial Partners’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans reduced its stake in ABT by selling 1,041,970 shares or 38.73% in the most recent quarter. The Hedge Fund company now holds 1,648,047 shares of ABT which is valued at $62 Million. Abbott Laboratories makes up approx 0.31% of Thrivent Financial For Lutherans’s portfolio.Obermeyer Wood Investment Counsel Lllp reduced its stake in ABT by selling 759 shares or 7.72% in the most recent quarter. The Hedge Fund company now holds 9,077 shares of ABT which is valued at $341,295. Abbott Laboratories makes up approx 0.03% of Obermeyer Wood Investment Counsel Lllp’s portfolio.Mayo Investment Advisers reduced its stake in ABT by selling 92,500 shares or 84.86% in the most recent quarter. The Hedge Fund company now holds 16,500 shares of ABT which is valued at $626,505. Abbott Laboratories makes up approx 0.11% of Mayo Investment Advisers’s portfolio.Montag A Associates Inc reduced its stake in ABT by selling 3,605 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 60,771 shares of ABT which is valued at $2.3 Million. Abbott Laboratories makes up approx 0.32% of Montag A Associates Inc’s portfolio.Ifc Holdings Incorporatedfl reduced its stake in ABT by selling 5,138 shares or 26.72% in the most recent quarter. The Hedge Fund company now holds 14,089 shares of ABT which is valued at $534,959. Abbott Laboratories makes up approx 0.07% of Ifc Holdings Incorporatedfl’s portfolio.

Abbott Laboratories opened for trading at $37.55 and hit $37.78 on the upside on Friday, eventually ending the session at $37.6, with a gain of 0.97% or 0.36 points. The heightened volatility saw the trading volume jump to 78,07,640 shares. Company has a market cap of $55,240 M.

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 .

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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