Broderick Brian C buys $4 Million stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Broderick Brian C scooped up 11,425 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 27, 2016. The investment management firm now holds a total of 101,095 shares of Abbott Laboratories which is valued at $4 Million.Abbott Laboratories makes up approximately 1.71% of Broderick Brian C’s portfolio.

Other Hedge Funds, Including , Fayerweather Charles boosted its stake in ABT in the latest quarter, The investment management firm added 6,115 additional shares and now holds a total of 34,055 shares of Abbott Laboratories which is valued at $1.3 Million. Abbott Laboratories makes up approx 1.87% of Fayerweather Charles’s portfolio.Reliance Trust Co Of Delaware reduced its stake in ABT by selling 7,970 shares or 3.72% in the most recent quarter. The Hedge Fund company now holds 206,504 shares of ABT which is valued at $7.8 Million. Abbott Laboratories makes up approx 0.74% of Reliance Trust Co Of Delaware’s portfolio.Panagora Asset Management Inc boosted its stake in ABT in the latest quarter, The investment management firm added 446,670 additional shares and now holds a total of 1,536,883 shares of Abbott Laboratories which is valued at $57.8 Million. Abbott Laboratories makes up approx 0.29% of Panagora Asset Management Inc’s portfolio.Cs Mckee Lp reduced its stake in ABT by selling 133,303 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 1,132,196 shares of ABT which is valued at $42.6 Million. Abbott Laboratories makes up approx 1.62% of Cs Mckee Lp’s portfolio.Busey Trust Co boosted its stake in ABT in the latest quarter, The investment management firm added 123 additional shares and now holds a total of 29,660 shares of Abbott Laboratories which is valued at $1.1 Million. Abbott Laboratories makes up approx 0.15% of Busey Trust Co’s portfolio.

Abbott Laboratories closed down -0.24 points or -0.61% at $38.93 with 1,02,02,655 shares getting traded on Tuesday. Post opening the session at $39.12, the shares hit an intraday low of $38.92 and an intraday high of $39.28 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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