Private Advisor Group Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Private Advisor Group reduced its stake in Abbott Laboratories by 20.66% during the most recent quarter end. The investment management company now holds a total of 129,669 shares of Abbott Laboratories which is valued at $4.9 Million after selling 33,772 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on May 13, 2016.Abbott Laboratories makes up approximately 0.24% of Private Advisor Group’s portfolio.

Other Hedge Funds, Including , Parametric Risk Advisors reduced its stake in ABT by selling 10,000 shares or 10.75% in the most recent quarter. The Hedge Fund company now holds 83,000 shares of ABT which is valued at $3.1 Million. Abbott Laboratories makes up approx 0.21% of Parametric Risk Advisors’s portfolio.Trustmark National Bank Trust Department reduced its stake in ABT by selling 7,490 shares or 18.95% in the most recent quarter. The Hedge Fund company now holds 32,043 shares of ABT which is valued at $1.2 Million. Abbott Laboratories makes up approx 0.16% of Trustmark National Bank Trust Department’s portfolio.Scotia Capital reduced its stake in ABT by selling 610 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 113,675 shares of ABT which is valued at $4.3 Million. Abbott Laboratories makes up approx 0.10% of Scotia Capital’s portfolio.Wrapmanager Inc boosted its stake in ABT in the latest quarter, The investment management firm added 1,119 additional shares and now holds a total of 5,913 shares of Abbott Laboratories which is valued at $222,329. Abbott Laboratories makes up approx 0.10% of Wrapmanager Inc’s portfolio. Fernwood Investment Management added ABT to its portfolio by purchasing 6,306 company shares during the most recent quarter which is valued at $237,106. Abbott Laboratories makes up approx 0.24% of Fernwood Investment Management’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.

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