Abbott Laboratories (ABT) : Groesbeck Investment Management Corp Nj reduced its stake in Abbott Laboratories by 2.5% during the most recent quarter end. The investment management company now holds a total of 109,097 shares of Abbott Laboratories which is valued at $4.1 Million after selling 2,802 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on May 13, 2016.Abbott Laboratories makes up approximately 2.99% of Groesbeck Investment Management Corp Nj’s portfolio.
Other Hedge Funds, Including , Bingham Osborn Scarborough reduced its stake in ABT by selling 307 shares or 2.01% in the most recent quarter. The Hedge Fund company now holds 14,947 shares of ABT which is valued at $562,007. Abbott Laboratories makes up approx 0.07% of Bingham Osborn Scarborough’s portfolio.Condor Capital Management boosted its stake in ABT in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 62,864 shares of Abbott Laboratories which is valued at $2.4 Million. Abbott Laboratories makes up approx 0.58% of Condor Capital Management’s portfolio.Paragon Capital Management Ltd reduced its stake in ABT by selling 2,117 shares or 22.18% in the most recent quarter. The Hedge Fund company now holds 7,428 shares of ABT which is valued at $282,041. Abbott Laboratories makes up approx 0.17% of Paragon Capital Management Ltd’s portfolio.California Public Employees Retirement System reduced its stake in ABT by selling 103,300 shares or 2.5% in the most recent quarter. The Hedge Fund company now holds 4,020,729 shares of ABT which is valued at $152.7 Million. Abbott Laboratories makes up approx 0.24% of California Public Employees Retirement System’s portfolio.
Abbott Laboratories opened for trading at $38.06 and hit $38.77 on the upside on Wednesday, eventually ending the session at $38.68, with a gain of 1.84% or 0.7 points. The heightened volatility saw the trading volume jump to 1,61,41,174 shares. Company has a market cap of $56,827 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.