Wellesley Investment Partners buys $689,697 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Wellesley Investment Partners scooped up 4,318 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 18,343 shares of Abbott Laboratories which is valued at $689,697.Abbott Laboratories makes up approximately 0.42% of Wellesley Investment Partners’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in ABT by selling 11,245 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 496,019 shares of ABT which is valued at $18.7 Million. Abbott Laboratories makes up approx 0.16% of Cornerstone Capital Management Holdings.’s portfolio.Tortoise Investment Management reduced its stake in ABT by selling 1,600 shares or 81.38% in the most recent quarter. The Hedge Fund company now holds 366 shares of ABT which is valued at $13,897.Lakeview Capital Partners reduced its stake in ABT by selling 2,051 shares or 19.11% in the most recent quarter. The Hedge Fund company now holds 8,681 shares of ABT which is valued at $329,618. Abbott Laboratories makes up approx 0.21% of Lakeview Capital Partners’s portfolio.Home Federal Bank Of Tennessee boosted its stake in ABT in the latest quarter, The investment management firm added 475 additional shares and now holds a total of 25,689 shares of Abbott Laboratories which is valued at $999,302. Abbott Laboratories makes up approx 0.62% of Home Federal Bank Of Tennessee’s portfolio.

Abbott Laboratories opened for trading at $37.6 and hit $38.41 on the upside on Monday, eventually ending the session at $38.25, with a gain of 1.73% or 0.65 points. The heightened volatility saw the trading volume jump to 1,01,78,499 shares. Company has a market cap of $56,195 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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